Question

Use the method of monthly averages to find the monthly indices for the following data of production of a commodity for the years 2002, 2003 and 2004.

2002	15	18	17	19	16	20	21	18	17	15	14	18
2003	20	18	16	13	12	15	22	16	18	20	17	15
2004	18	25	21	11	14	16	19	20	17	16	18	20

Answer 1

Computation of monthly indices for the production of a commodity using the method of monthly averages.

All the values are given in the above table in the last row.