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Elena Hoffman
Mathematics
27 January, 05:46
Importance of Index Number
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Shannon Henry
27 January, 05:59
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Answer:Index numbers are important in economic statistics. In simple terms, an index (or index number) is a number displaying the level of a variable relative to its level (set equal to 100) in a given base period. Index numbers are intended to study the change in the effects of such factors which cannot be measured directly.
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Marlon Leach
27 January, 06:12
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Index numbers are intended to measure the degree of economic changes over time. These numbers are values stated as a percentage of a single base figure. Index numbers are important in economic statistics ... Index numbers are intended to study the change in the effects of such factors which cannot be measured directly.
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