Index Statistic Pdf For Free

An "index", as the term is generally used when referring to statistics, is a series of index numbers expressing a series of numbers as percentages of a single number. Example: the numbers. 50 75 90 110. expressed as an index, with the first number as a base, would be. 100 150 180 220.

Thus, index numbers are the measurement of any change in a variable or variables across a determined period. These numbers show a general relative change and not a direct measurable figure. An index number is expressed in the percentage form.

INDEX NUMBER expresses the relative change in price, quantity, or value. compared to a base period. An index number is used to measure changes in prices paid for raw materials; numbers of employees and customers, annual income and profits, etc.

This is a simple method for constructing index numbers. In this, the total of current year prices for various commodities is divided by the corresponding base year price total and multiplying the result by 100. p ? = the total of same commodity prices in the base year. (in Rs) 0 p (in Rs.)

An index number is basically a ratio which has the involvement of more than two periods. For every index number, the base year remains the same. Some of the examples are CPI, WPI, BSE, etc. An index number is generally of two types: simple and composite.

As mentioned, the index number defines the level of a variable relative to the level in a particular period of time span. These index numbers serve as a measure to study the change in the effects of all the factors that cannot be measured or estimated on a direct basis.

There are broadly three types of index numbers ? price index numbers, value index numbers, and quantity index numbers.