What is Fisher's method and Paasche's Method.
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The official CPI is based on a Laspeyres-type index, in which the weights are based in an historical period. ... The Fischer index is an approximation of a cost-of-living index (COLI). For purposes of analysis, Stats SA has calculated a Laspeyres, Paasche and aFisher index.
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Fisher's method, also known as Fisher's combined probability test, is a technique for data fusion or "meta-analysis". It was developed by and named for Ronald Fisher. In its basic form, it is used to combine the results from several independent tests bearing upon the same overall hypothesis.
While , The Paasche price index is an index formula used in price statistics for measuring the price development of the basket of goods and services that is consumed in the current period. The question it answers is how much a basket that consumers buy in the current period would have cost in the base period.
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While , The Paasche price index is an index formula used in price statistics for measuring the price development of the basket of goods and services that is consumed in the current period. The question it answers is how much a basket that consumers buy in the current period would have cost in the base period.
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