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The following table shows the prices and quantities of three different toys sold at a store in Theme Park in year 2020 and year
The following table shows the prices and quantities of three different toys sold at a store in Theme Park in year 2020 and year 2021. Types of Toy Year 2020 Year 2021 Price (RM) Quantity Price (RM) Quantity Minien 50 79 55 102 Transfomor Hallo Kitten Using year 2020 as the base year, calculate for year 2021: 85 55 70 90 32 45 35 32 (i) the simple average of price relative index for year 2021; (2 marks) (ii) the Laspeyres price index and interpret the result; (5 marks) (iii) the Paasche quantity index and interpret the result. (4 marks) (iv) the Fisher's quantity index. (3 marks)
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