Index Numbers
Index Numbers
Index numbers can be used to reflect the change in ‘time series’ data.
Using index numbers is a statistical way to reflect the value of data at a particular point in time.
The base period for an index is usually set at 100 and subsequent time series data will increase or decrease at each point in time.
Here is an example of different data being compared by expressing as an index. This can clearly show changes in the data.
