Index Numbers with Applications

Index Numbers with Applications

This site is a part of the JavaScript E-labs learning objects for decision making. Other JavaScript in this series are categorized under different areas of applications in the MENU section on this page.

Professor Hossein Arsham

The following is a collection of JavaScript for computing some of the most useful business and economics index numbers.

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.

Replace the existing numerical example, with your own case-information, and then click on the Calculate.

 Ratio Index Numbers

 Plant Type - A Plant Type - B Months Unit Output Man Hours Unit Output Man Hours 1 2 3 Standard

 Variation Index as a Quality Indicator

 Category 1 2 3 4 5 6 7 8 9 10 Frequency # of Participants Dispersion Index

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,

For example:
 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

and
 139 lbs (0.45359237 Kg / 1 lb) = 63.0493853 Kg

For Technical Details, Back to:
Statistical Thinking for Decision Making

Professor Hossein Arsham

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