Index numbers

Worked examples (9)

• 1A single price relative
• 2Completing a table of price relatives
• 3Saying what a price relative means
• 4Recovering a price from a relative
• 5Comparing several goods in the same year
• 6Changing the base year, using the prices
• 7Rebasing when only the relatives are given
• 8Why percentage changes multiply rather than add
• 9Two relatives, two base years — an illegal comparison

Model answers (9)

• ✓Model answer — 0479 Paper 1 style — 10.1
• ✓Model answer — 0479 Paper 1 style — 10.1
• ✓Model answer — 0479 Paper 2 style — 10.2 (AO2)
• ✓Model answer — 0479 Paper 2 style — 10.2 (AO2)
• ✓Model answer — 0479 Paper 1 style — 10.1
• ✓Model answer — 0479 Paper 1 style — 10.1, 10.2
• ✓Model answer — 0479 Paper 2 style — 10.2 (AO2)
• ✓Model answer — 0479 Paper 1 style — 10.1
• ✓Model answer — 0479 Paper 2 style — 10.1, 10.2

Worked examples (9)

• 1An index from weights and relatives that are given
• 2Weights that do not add up to 100
• 3Interpreting an index number
• 4Calculating the weights first, then the index
• 5From raw prices to a finished index
• 6Using the index: basket cost and a pay rise
• 7The effect of changing the weights
• 8Explaining the limitations of the index
• 9Working backwards to a missing price relative

Model answers (9)

• ✓Model answer — 0479 Paper 1 style — 10.3
• ✓Model answer — 0479 Paper 1 style — 10.3
• ✓Model answer — 0479 Paper 2 style — 10.4 (AO2)
• ✓Model answer — 0479 Paper 1 style — 10.3
• ✓Model answer — 0479 Paper 2 style — 10.4
• ✓Model answer — 0479 Paper 2 style — 10.1, 10.3
• ✓Model answer — 0479 Paper 2 style — 10.3, 10.5
• ✓Model answer — 0479 Paper 1 style — 10.5 (AO2)
• ✓Model answer — 0479 Paper 2 style — 10.3, 10.4, 10.5