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How do you work out index numbers?

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Anonymous

11y ago
Updated: 9/23/2022

Index numbers are usually expressed by setting some selected value as 100 and converting all other numbers to an index relative to that base.

So, for a simple index, if the value y(0) is set to 100, then the index for the value y(k) is y(k)/y(0)*100.


The calculations become more complicated if the index is for a collection of items. In such cases, a number of different "sub-indices" need to be combined together. The combined index is calculated as a weighted average of the component sub-indices, with the weights based on the importance of each su-index in the base period (base-weighted) or in the current period (current-weighted).

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Clark Schimmel

Lvl 9
3y ago

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