Write short note on
Index Numer
Index Numer
An index
number is the
measure of change in a variable (or group of variables) over time. ... Index
numbers are one of
the most used statistical tools in economics. Index numbers are not
directly measurable, but represent general, relative changes. They are
typically expressed as percents. Index numbers are values expressed as a percentage of a single base
figure. For example, if annual production of a particular chemical rose by 35%,
output in the second year was 135% of that in the first year. In index terms, output
in the two years was 100 and 135 respectively. Index numbers have no units.
Meaning and Characteristics of Index Numbers. An index number is a method of evaluating variations in a variable or
group of variables in regards to the geographical location, time, and other
features.
An index number is the measure of change in a variable (or group of variables) over time. ... Index numbers are one of the most used statistical tools in economics. Index numbers are not directly measurable, but represent general, relative changes. They are typically expressed as percents. Index numbers are values expressed as a percentage of a single base figure. For example, if annual production of a particular chemical rose by 35%, output in the second year was 135% of that in the first year. In index terms, output in the two years was 100 and 135 respectively. Index numbers have no units. Meaning and Characteristics of Index Numbers. An index number is a method of evaluating variations in a variable or group of variables in regards to the geographical location, time, and other features.
