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To find weighted aggregate price index using Laspeyres and Paasche method.
a. The following table reports prices and usage quantities for two years in 1990 and 1992.
| Item |
1990 |
1992 |
1990 |
1992 |
| A |
1450 |
1500 |
9 |
11 |
| B |
540 |
650 |
4 |
6.5 |
(a) Compute a weighted aggregate price index for the two items using the Laspeyres method.
(b) Compute a weighted aggregate price index for the two items using the Paasche method.
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