Index Numbers of Wholesale Prices in the United States and Foreign Countries; Revision of Bulletin No.173. October, 1921 Volume 284; No. 296; No. 320; No. 335

Index Numbers of Wholesale Prices in the United States and Foreign Countries; Revision of Bulletin No.173. October, 1921 Volume 284; No. 296; No. 320; No. 335

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921 edition. Excerpt: ...1 a a. a a Butter........................ Pound.......1 00 1 '1 1,350 620 _ Bread......................... 2-pound 1oaE... Thus 6,650 millions is the total expenditure for this group in 1911, which is the base or 1,000. To secure the index figure for 1901, the total aggregate number 4,950 millions for 1901 is divided by 6,650 millions, the base, which quotient multiplied by 1,000 equals 744 as the index for 1901. A similar process was used for each of the groups represented in the report. The author lays particular em hasis on the fact that his index numbers are reversible, by which e means that they may be recomputed with any other year than 1911 as the base and the results be as accurate as if that year had been taken as the base originally. TESTING. The author tests his system of weighting b mass units instead of actual quantities consumed by a comparison 0 results obtained under the two methods by taking a list of prices from 1871 to 1911 for 73 articles, the year 1911 being used as a base. In the first instance the actual figures were used and in the second the mass units. The result in the first case was 1,194 and in the second 1,193, the slight difference thus shown appearing not to warrant the extra arithmetical labor required by the use of the actual figures instead of the rounded numbers or mass units. He further tests his index numbers by a comparison with index numbers obtained by other methods. Table 27 illustrates this comparison: TABLE 27---PRICE INDEXES: EXAMINATION AS TO RELIABILITY OF VARIOUS METHODS. ture---price-ratio (geometric (arithnxetw method. me, m)_ me, m)_ method. Index number for 1871, with 1911 (equaling 1,000) as base year............................................. 1, 194' 1, 1% 1, 289 1, 310 He...show more

Product details

  • Paperback | 172 pages
  • 189 x 246 x 9mm | 318g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 123694626X
  • 9781236946263