Question

The following are one group index numbers and the group weights for the Ahmedabad workers for the month of January 2020. Construct the cost of living index number:

Answer 1

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▪️What are the steps required for the construction of price index...

▪️▪️Selection of Base Year: The first step or the problem in preparing the index numbers is the selection of the base year.

▪️▪️Selection of Commodities

▪️▪️Collection of Prices

▪️▪️Selection of Average

▪️▪️Selection of Weights

▪️▪️Purpose of Index Numbers

Answer 2

Explanation:

This is correct answer. May also check.