SIMULATED SAMPLING DISTRIBUTION OF PRICE INDEX NUMBERS

by Jayant Dubey and Diwakar Shukla.

Abstract: Index numbers represent change over two different situations. They give an indication of the scenario of the economic pressure related to market situations. The sampling distribution is helpful in explaining the variability of estimates due to sampling. This paper presents an examination of sampling distribution of price index numbers. Graphical plots of various price indices showing the concentration of index estimates around the expected value are included. Several different weighted aggregate price indices are discussed in detail in the form of sampling distributions using numerical support. A comparison among them is made using simulation method and some useful conclusions related to moments are also drawn.

Key Words: Index Number, Sampling Distribution, Prices, Quantity, SRSWOR, Raw Moments and Central

Authors:
Jayant Dubey, dubey.jayant@rediffmail.com
Diwakar Shukla, diwakarshukla@rediffmail.com

Editor: JAMES KNAUB, JAMES.KNAUB@eia.doe.gov

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