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Question

Construct Index of Industrial Production (IIP) from the following data:

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Solution

$\begin{matrix} Indutry & Q_{0} & Q_{1} & R = \frac{Q_{1}}{Q_{0}} \times 100 & W & R W Manufacturing & 122 & 300 & 245.90 & 85 & 20901.5 Electrical Products & 203 & 400 & 197.04 & 5 & 985.2 Mining and Quarrying & 65 & 87 & 133.84 & 10 & 1338.4 \sum W = 100 & \sum R W = 23225.1 \end{matrix}$
IIP = $\frac{\sum R W}{\sum W} = \frac{23225.1}{100} = 232.251$

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