The primary purposes of an index number are to provide a value useful for comparing magnitudes of aggregates of related variables to each other, and to measure the changes in these magnitudes over time. Consequently, many different index numbers have been developed for special use. There are a number of particularly well-known ones, some of which are announced on public media every day. Government agencies often report time series data in the form of index numbers. For example, the consumer price index is an important economic indicator. Therefore, it is useful to understand how index numbers are constructed and how to interpret them. These index numbers are developed usually starting with base 100 that indicates a change in magnitude relative to its value at a specified point in time.
- Ratio Index Numbers for Utilization Indicator
- Variation Index as a Quality Indicator
- Body Mass Index (BMI)
- Time Series Seasonal Index
- Economics and Financial Ratios and Price Indices
- The Geometric, and the Harmonic Means
Replace the existing numerical example, with your own case-information, and then click on the Calculate.
For those unfamiliar with the Metric system, listed below are relevant unit conversion factors, and an example of USA to metric unit conversion.
1 inch = 2.54 cm, 1 meter = 100 cm, 1 lb = 0.45359237 Kg,
5 feet 8 inches = 5 ft (12 in / ft) + 8 in = 68 inches 68 in (2.54 cm / in) = 172.72 cm 172.72 cm (1 meter / 100 cm) = 1.7272 meters
139 lbs (0.45359237 Kg / 1 lb) = 63.0493853 Kg
For Technical Details, Back to:
Statistical Thinking for Decision Making
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