ADDITIONAL MATHEMATICS PROJECT WORK 2/2013

BAHPART 1

(a) Describe in brief

(i) Price index

(ii) Weightage

(iii) Composite index

(b) State four ways of weightage representations.

ANSWER

(a)   (i)   price index

A price index is actually an index used to trace the relative changes in a price of a good in a certain time. It can be used to trace the increase or decrease of the price of an item. For example, the price of cooking oil in making roti canai in the year 2013 based on the year 2010.

Calculating of  price index

price of the item at the base year

  = price of the item at the specific time

       

(ii)  weightage

 A weightage is a weighting factor of something when compared to another thing. For example, the weightage of flour, eggs and cooking oil in making a roti canai is 80%, 5% and 15% respectively.

          

     

(iii) composite index

Composite index is a group of indices combined to measure the overall price of an item over a period of time. For instance, the price of roti canai in the year 2013 based on the year 2010.

 Calculating of composite index

=

b)  four ways of weightage representation with the examples of the representations .

Bar Graphs

A Bar Graph (also called Bar Chart) is a graphical display of data using bars of different heights.

Pie Chart

Pie Chart - A special chart that uses "pie slices" to show relative sizes of data.

Line Graphs

Line Graph  - A graph that shows information that is connected in some way (such as change over time)

A Table