The weekly observations on cost of living index in a certain city for the year 2004-2005 are given below. Compute the weekly cost of living index.
cost of Number of Cost of Number of
living Cost students living students
of living index
1400-1500 3 1700-1800 9
1500-1600 10 1800-1900 6
1600-1700 20 1900-2000 2
Answers
weekly cost of living index. = Rs 1672
Step-by-step explanation:
Class f Mean A = (mean - 1650)/100 A*f
1400 - 1500 3 1450 - 2 -6
1500 - 1600 10 1550 -1 -10
1600 - 1700 20 1650 0 0
1700 - 1800 9 1750 1 9
1800 - 1900 6 1850 2 12
1900 - 2000 2 1950 3 6
50 11
Mean = 1650 + 100 * 11 / 50
= 1650 + 22
= 1672
weekly cost of living index. = Rs 1672
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