Question

The index numbers of five commodities are 121,123,125,126,128 and the weights assigned

to these are respectively 5,11,10,8,6. Then what is the weighted average index number?​

Answer 1

Answer:

124.6

Step-by-step explanation:

121+123+125+126+128= 623

5+11+10+8+6 = index (10)

therefore ,

623/10

=62.3

62.3+62.3 = 124.6 Ans

Answer 2

Given,

five commodities are 121,123,125,126,128

the weights assigned to these are respectively 5,11,10,8,6

To find,

the weighted average index number

Solution,

The Weighted average index number is the average obtained by taking the sum of weighted index numbers and then diving it by total weights

So, according to the given information

Sum of weighted index numbers = (121 × 5) + (123 × 11) + (125 × 10) + (126 × 8) + (128 × 6)

= 605 + 1353 + 1250 + 1008 + 768

= 4984

Sum of the total weights = 5 + 11 + 10 + 8 + 6

= 40

So, the weighted average index = Sum of weighted index numbers/Sum of the total weights

= 4984 / 40

= 124.6

Thus, the Weighted average index number is 124.6