Question

If Laspeyres' and Paasche's Index
numbers are 152.6 and 145.3, find
Fisher's Ideal Index Number:​

Answer 1

Answer:

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Answer 2

Given :

Laspeyre's Index (L.I.) = 152.6

Paasche's Index (P.I.) = 145.3

To Find :

Fisher's Ideal Index Number

Solution :

We can find the Fisher's ideal index by square rooting the product of Laspeyre's index number (L.I.) and Paasche's index number (P.I.)

∴ Fisher's Ideal Index = $\sqrt{L.I. * P.I.}$

                                    = $\sqrt{152.6 * 145.3}$

                                    = $\sqrt{22172.78}$

                                    =  148.9

Hence, the Fisher's Ideal index is found to be 148.9.

Where Fisher's ideal index is used?

It is used to measure the increase in prices of goods and services over a period of time.