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Significance of Price Markets in Karachi and Cost Reduction Factor in Computing Price Index for Food Items

. Humaira Faraz, Fahim Raees and Mirza Mahmood Baig


In this paper the effort has been made to highlight the same price pattern observed through sample survey in order to exclude the markets which are behaving in the same direction. Findings of this paper may benefit the government in terms of reduction of its human resource and budgetary as well.

Before the application of any statistical technique it is important to check the nature of the data. 

For this purpose different normality check in applied. Graphically by Q-Q plot (Quantile-Quantile plot).  Further Kolmogorov-Smirnov and Shapiro-Wilk test is applied after checking z-skewness and z-kurtosis. Due to skewness in the data, non-parametric method Kruskal-Wallis H test is applied to check whether there is any significant difference among the prices of food items or not, collected from different markets of Karachi city.

Key Words:  Non-Parametric data; Q-Q Plot; Kruskal-Wallis H Test; Market Prices.

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