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define index number

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define index number

Posted by Yash Rajput 4 years, 3 months ago

CBSE > Class 11 > Economics

1 answers

Yogita Ingle 4 years, 3 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.
Index number facilitates the comparative study over different time period.

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