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Index numbers
Compute price relatives for specific goods and services in a given year, using a base year set at 100.
5
Objectives
50
Flashcards
35
Questions
90 min
Study time
CambridgeIGCSEStatisticsIndex numbers
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Index numbers outcomes5 objectives
- Compute price relatives for specific goods and services in a given year, using a base year set at 100.
- Grasp the concept of a price relative.
- Calculate a weighted aggregate index number using weights derived from base year spending, which may require calculation.
- Interpret and apply a weighted aggregate index number.
- Recognize the limitations of a weighted aggregate index number, including the impact of changes in weights due to shifts in consumption patterns.
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