a. The table below shows the prices of average person’s diet and the basket of goods in the year…

a. The table below shows the prices of average person’s diet and the basket of goods in the year 2000 and2005.

Determine the Laspeyre’s price index, paashce’s price index and Fisher’s ideal index. (8marks )

 

b. A life insurance company examines the age of the last 100 policy holders to take an endowment assurance with them. The results are as follows.

Age (ages)0-1415-1920-2425-3435-5455-59

frequency92821161412

Draw the histogram of the data and comment on the shape of the distribution.

Compute:

i.	the mean using an assumed mean	(3marks )
ii.	the variance and standard deviation	(4marks )
iii.	Median and semi interquartile range.	(5marks )