Applied Business Analysis by Dr Lucian Tipi; Jayne Revill

Author:Dr Lucian Tipi; Jayne Revill
Language: eng
Format: epub
Publisher: Bookboon.com Ltd.
Published: 2016-06-27T00:00:00+00:00

whereas the index number is:

i.e. 14.2% above the base of 100

Both methods give the same information but the index number calculation is more ‘streamlined’.

Index numbers allow us to monitor the way in which the value of any variable is changing over time or space and also to assess the relative size and hence importance of the changes. In this way comparisons may be made between values arising at different points in time. Any variable or time interval can be used.

The reference point is called the base and the index number of the variable at the base is always 100.

There is a variety of different ways of constructing index numbers depending on whether the index refers to:

a single item or a group of items

prices or quantities, etc.,

single values or weighted values

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