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Paper 1Statistical Techniques6 marks
Using the data from the previous question, calculate the weighted aggregate price index number for the current year using base year spending as weights. Show all your working.
Data Table
Product Data
Base year quantities and prices, and current prices for products A, B, and C.
| Product | Base Year Quantity | Base Year Price (£) | Current Price (£) |
|---|---|---|---|
| A | 10 | 2 | 3 |
| B | 5 | 4 | 5 |
| C | 8 | 3 | 4 |
- a[6]
Calculate the weighted aggregate price index number using base year spending weights.
Aim for approximately 6 distinct marking points.
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