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Greetings Dear Sir. Hope you are in good health.
Had some questions for you:
4a.21
Question says in 2010, t=0. So therefore in 2009 should equal to -1, not 9 as indicated in the answer pg, unless 0 is typo and it was meant to be 10 for 2010.4a.23
Is the definition in (ii) related to the Paasche index ?4a.24
I do not think you have touched upon Fisher’s index in your lectures, although the formula is thankfully available in the answer page at the back of this Revision Kit. Could you elaborate on the Fisher concept please?Thankyou.
4a21: 20X9 is 9 years later than 20X0. (Think about 2019 and 2010)
4a23: Yes 🙂
4a24: Fishers index is an attempt to combine the benefits of both Laspeyre and Paasche. However it is not mentioned in the syllabus and is therefore unlikely to be asked in the exam.
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