3. The price per box (of 6) eggs and quantity sold in 000's of boxes) of various types of eggs were recorded by a superm

[answerhappygod]

3 The Price Per Box Of 6 Eggs And Quantity Sold In 000 S Of Boxes Of Various Types Of Eggs Were Recorded By A Superm 1 (135 KiB) Viewed 75 times

3. The price per box (of 6) eggs and quantity sold in 000's of boxes) of various types of eggs were recorded by a supermarket chain and are given below for the same month of 2015 and 2020: Egg type May 2015 Price per box Quantity sold (£) (000s) 0.60 110 0.75 70 0.90 30 May 2020 Price per box Quantity sold (£) (000s) 0.90 50 1.20 60 1.70 90 Standard Barn Free range a) Calculate the Laspeyre's price index for 2020 (using 2015 as the base year). (4 marks) b) Calculate the Paasche's price index for 2020 (using 2015 as the base year) (4 marks) c) Comment on the values of the two price indexes found in a) and b) above, paying particular attention to any difference between the two values. (4 marks) d) The RPI values for May 2015 and May 2020 were 258.5 and 292.2 respectively. Calculate inflation over the period May 2015 to May 2020. What is the main reason why this result differs considerably from the Laspeyres and Paasche price indices for the same period (calculated in parts (a) and (b)? (4 marks)