INDEX NUMBER STATISTICS EPUB DOWNLOAD!
Index numbers. An index number is an economic data figure reflecting price or quantity compared with a standard or base value. The base usually equals and the index number is usually expressed as times the ratio to the base value.Index numbers · Index number problem · Indices. An index number in which the component items are weighted according to some system of weights reflecting their relative importance. what is index number? An index number is a statistical value that measures the change in a variable with respect to time. Two variables that are often considered.
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Let's take a look at two real world index numbers. This is a stock index.
Index Numbers in Statistics: Uses & Examples - Video & Lesson Transcript |
It measures the performance of 30 large public companies in the United States. These 30 index number statistics are representative of companies in the whole of the United States and therefore, this index is mentioned in relation to how businesses in the United States are doing. If this index goes down, then that means companies in the United States are not doing well.
If the index goes up, then that means businesses in the United States are doing well. On November 14,the Dow Jones industrial average gave a number of 17, This means that businesses in the Index number statistics States did better the day before.
OECD Glossary of Statistical Terms - Weighted index number Definition
It is typically used in economics to measure trends in a index number statistics variety of areas including: 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. The Dow Jones index number statistics measures the change in stock prices over a set of about 30 large companies which are considered to be representative of business in the United States.
For example, if a commodity costs twice as much index number statistics as it did inits index number would be relative to Index numbers are used especially to compare business activity, the cost of livingand employment.
They enable economists to reduce unwieldy business data into easily understood terms. In economicsindex numbers generally are time series summarising movements in a group of related variables. In some cases, index number statistics, index numbers may compare geographic areas at a point in time.
Index Number: Simple Definition
With the support of index numbers, the average price of several articles in one year may be compared with the average price of the same quantity of the same articles in a number of different years.
There are several sources of 'official' statistics that contain index numbers for quantities such as food prices, clothing prices, housing, and wages. Index numbers may index number statistics categorized in terms of the variables that they are planned to measure.
In business, different groups of variables in the measurement of which index number techniques are normally used are price, quantity, value, and business activity. A simple index number is a number that measures a relative change in a single variable with respect to a index number statistics.
These type of Index numbers are constructed from a single item only.