A COMPREHENSIVE SIMULATION STUDY ON PRICE INDEX NUMBERS

by Azhar Mehmood Abbasi .

Abstract: Index numbers are used to explore periodic average change in commodities including basket items. It is very come to statistician to determine the sampling distribution of estimates of indices. Dubey and Shukla (2008) discussed the sampling distribution of price indices. But they did not articulate the impact of increased sample size on the shape of sampling distribution of indices. In this article we will conduct a comprehensive simulation study of price index numbers and try to determine which distribution they follow with increase in sample size. Graphical plots and Central Moments are used to find the shapes of sampling distributions of the indices.

Key Words: Index Number, Basket Items, Sampling Distribution, Prices, Quantities, SRSWOR, Central Moments and Normal Distribution

Author:
Azhar Mehmood Abbasi, abbasiqau2007@yahoo.com

Editor: Knaub, James R,, jamesRknaub@gmail.com

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