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0 votes
3.6k views
in Applied Statistics by (48.4k points)
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An Enquiry was made into the budgets of the middle-class families in a city that gave the following information.

Expenditure Food Rent Clothing Fuel  Rice
Price(2010) 150 50 100 20 60
Price(2011) 174 60 125 25 90
Weight 35 15 20 10 20

What changes in the cost of living have taken place in the middle-class families of a city?

1 Answer

+1 vote
by (48.0k points)
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Best answer

Cost of living index number = \(\sum PW/ \sum W\)

= 12610/100 = 126.1

For the middle-class families of the city, the cost of living has increased up to 26.1 % in 2011 as compared to 2010.

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