he data about average daily wage of a group of workers employed in a factory in a city during the year 2008 to 2015 are as follows

Question

The data about average daily wage of a group of workers employed in a factory in a city during the year 2008 to 2015 are as follows. Find the index number by

(1) Fixed base method (taking base year 2008),

(2) Chain base method and

(3) Fixed base method by taking average of average daily wages of the years 2011 to 2013 as the wage for the base year.

Answer 1

Finding the index number