A Complete Guide to Index Numbers PART-1 скачать в хорошем качестве

A Complete Guide to Index Numbers PART-1

A Complete Guide to Index Numbers PART-1 Welcome to our complete guide on Index Numbers! In this video, we’ll walk you through everything you need to know about index numbers, including their definition, types, uses, and how they are calculated. Whether you’re a student, professional, or someone curious about economic measurements, this guide will give you a thorough understanding. What you will learn: The definition and purpose of index numbers Types of index numbers The calculation of price index numbers using various methods Practical examples of price index calculations Index Numbers An index number is a statistical measure designed to show changes in a variable or a group of related variables with respect to time, geographical locations, or other characteristics. Quantity Index Numbers A quantity index number is used to measure changes in the volume or quantity of goods that are produced, consumed, and sold within a stipulated period. It shows the relative change across a period for particular quantities of goods. Price Index Numbers A price index number is used to measure how price alters across a period. It will indicate the relative value and not the absolute value. The Consumer Price Index (CPI) and Wholesale Price Index (WPI) are major examples of a price index. Simple Price Index Number Example Solved in Video The following data for the year 1990 to 2000 is taken for the price of wheat in billions. Calculate the price Index numbers taking 1. 1990 as base year 2. Taking the average of first 4 years as base 3. Taking the average of all years as base 4. Take 1993 as base Year Price 1990 5.3 1991 5.9 1992 6.4 1993 7.1 1994 8.2 1995 8.9 1996 9.1 1997 9.5 1998 10.5 1999 11.2 2000 13.8 Compound Index Numbers Example Solved in Video The following data has been given on the prices of wheat, sugarcane and tobacco for the year 2001 to 2009. Take 2001 as base year and calculate the price index numbers using i. Mean as average ii. Median as average iii. Geometric mean as average This video is perfect for students studying economics or anyone interested in understanding the measurement of price changes and inflation over time. Don't forget to like, share, and subscribe for more informative content on economics and statistics! #IndexNumbers #PriceIndexNumbers #Economics #Inflation #Statistics #PriceCalculations