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Cambridge IGCSE Statistics practice

Paper 1 structured question: Index numbers

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Index numbers

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Paper 1Statistical Techniques2 marks

An index number is calculated using fixed weights from a base year. Over several years, consumption patterns have shifted significantly.

Description

Index Number and Consumption Patterns

The index number combines price changes of various goods using weights from the base year, despite changes in consumption.

  1. a

    Suggest one way to improve the accuracy of the weighted aggregate index number given changing consumption patterns.

    Aim for approximately 2 distinct marking points.

    [2]

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Paper 1 structured question: Index numbers

Paper 1Statistical Techniques3 marks

Description

Weighted Aggregate Index Number Context

The index uses weights from last year to combine price changes of several items. However, consumption patterns have shifted this year.

  1. a

    Explain why the weighted aggregate index number may not accurately reflect current changes in consumption.

    Aim for approximately 3 distinct marking points.

    [3]