0
ndex numbers are basically economic data figures that reflect the price or quantity compared with standard or base value. It is normally expressed as 100 times the ratio of the base value that equals 100.
Index numbers are very important for economic analysis. They summarize movements in a group of related variables. The consumer Price index is one of the most commonly used form of index number. It measures the changes in the retail prices.
Still curious? Ask our experts.
Chat with our AI personalities
Vivi
Rene
EzraAdd your answer:
Earn +20 pts
What the uses of index number in index index?
uses of index
What is the meaning of coordinate index?
Coordinate index ? Sure ! It's easy ... You just have to coordinate your index number !
How do you work out the index number?
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).
Discuss the Importance of caveat?
Caveat Empotor means let the buyer beware
What does index mean in maths terms?
index is the same as power The index of a number say how many times you have to use the number in a multiplictaion. e.g; 2 10 = 10*10=100
