0

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.

What are index numbers?

09

Apr'18

Introductory Macroeconomics Questions and Answers

Business Tutor

These introductory macroeconomics questions and answers will direct you to more resources to help in your study of macroeconomics. Introductory Macroeconomics Questions and Answers Hopefully these introductory macroeconomics questions and answers have helped you understand this important topic.

Read More

30

Jan'18

Management Accounting Questions and Answers

Fiona Smith

  Management Accounting Questions and Answers Use these questions and answers to find the answers to your budgeting and management accounting questions.

Read More

30

Jan'18

What are Index Numbers?

Business Tutor

These questions and answers will help you understand how index numbers are created. Economic indicators such as the price index ‘The Consumer Price Index’ or CPI are used in business to illustrate how the vale of items is changing over time due to rising prices. Learn about their meaning and …

Read More