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Index Numbers Studying this chapter should enable you to: • understand the meaning of the term index number; † become familiar with the use of some widely used index numbers; † calculate an index number; † appreciate its limitations. 1. INTRODUCTION You have learnt in the previous chapters how summary measures can be obtained from a ...
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An index number is a statistical measure, designed to measure changes in a variable, or a group of related variables . Index number is a single ratio (or a percentage) which measures the combined change of several variables between two different times, places or situations .
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Simplify the following without the use of a calculator, showing clearly all the steps in your calculations. a) 1 1 9 92 2 + − b) 1 1 4 42 2 + − c) 1 1 8 83 3 + − d) 1 3 25 252 2 − − e) 1 3 36 362 2 − − 10 3, 5 2, 5 2, 624 125, 1295 216