Finding Link Relatives in Time Series (Index Numbers) скачать в хорошем качестве

Finding Link Relatives in Time Series (Index Numbers)

Finding Link Relatives in Time Series (Index Numbers) In this video, we dive into the concept of Link Relatives in time series data, a crucial technique in the calculation of Index Numbers. Link relatives are essential for comparing values over different periods while accounting for shifts in the base year. This method is widely used in economic and statistical analysis to track changes in prices, quantities, and other economic variables over time. What You’ll Learn: What Link Relatives are and why they are important in time series analysis. The process of calculating link relatives in index numbers. How link relatives help in constructing a chain index. Step-by-step examples and practical applications. Differences between simple index numbers and link relative index numbers. What is Chain Index? A chain index is an index number in which the value of any given period is related to the value of its immediately preceding period (resulting in an index for the given period expressed against the preceding period = 100); this is distinct from the fixed-base index, where the value of every period in a time series is directly related to the same value of one fixed base period. What is Link Relative? It measure relative changes according to the recent previous year. I_n=p_(n-1)/p_n ×100 Example The following data for the year 1990 to 2000 is taken for the price of wheat in billions. Calculate the chain indices for the following data. 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 I've solved the above example with three methods, using Mean as Average Median as Average Geometric Mean as Average By the end of this video, you’ll have a clear understanding of how link relatives simplify the analysis of time series data and improve the accuracy of index numbers calculations. Don’t forget to like, share, and subscribe for more content on economics and statistical methods. Feel free to leave any questions or thoughts in the comments below! #LinkRelatives #IndexNumbers #TimeSeries #Statistics #EconomicAnalysis #ChainIndex #PriceIndex