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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).
How is HDI measured?
The Human Development Index (HDI) is a composite measure based on a weighted average of indices of life expectancy (at birth), education (measured by enrolment statistics) and income per capita.
Method of construction of index number?
In the simplest case, you select one period to represent the base period. Suppose the value of the variable for this period is V. The index is calculated by multiplying the value for each period by 100/V. This results in the base period having an index of 100 and all the other periods are represented by their percentage relative to the base period. Things get more complicated when you consider (mainly) economic index numbers such as price indices. A simplistic description of a price index is as follows: identify a "basket" of goods and services that the price index is required to cover. Calculate a price index for each item using the same base year. Then calculate the weighted average of these indices, where the weights reflect the importance of the goods in the total spend - either in the base period or the current period.
What the uses of index number in index index?
uses of index
Is DMFS index reversible index?
no
