Index Numbers

Question 1

What are the different types of index numbers?

Answer 1

Price relative, chain base index and weighted index numbers

Question 2

How do you find out a index number(formula)?

Answer 2

Quantity divided by quantity in base year(start year) ,time 100

Question 3

What is an index number?

Answer 3

A statistical measure designed to follow or track changes over a period of time in the price, quantity or value of an item or group of items.