#index numbers

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Features and Importance of Index Number in Statistics

Features and Importance of Index Number in Statistics

Features of Index Numbers in Statistics – Index Number has the following features in statistics: (i) Index numbers are specialized averages that are capable of being expressed in percentages. (ii) Index numbers measure the changes in the level of a given phenomenon. (iii) Index numbers quantify the impact of changes made over time. Importance of Index Numbers in Statistics – For economic and…

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