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What is index number??

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What is index number??

Posted by Somiya Rajput 6 years, 8 months ago

CBSE > Class 11 > Economics

1 answers

Yogita Ingle 6 years, 8 months ago

An index number is a statistical device for measuring changes in the magnitude of a group of related variables.

Features of Index Number

Index numbers are expressed in terms of percentages. However, percentage sign (%) is never used.
Index numbers are relative measurement of group of data.
Index numbers offer a precise measurement of the quantitative change in the concerned variables over time.
Index number show changes in terms of averages.
They are expressed in numbers.

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