Index number is a special type of ----------
A)Average
B)dispersion
C)correlation
D)none of the above

Question

Quizplus · Accepted Answer

An index number is a statistical measure designed to show changes in a variable or group of related variables with respect to time, geographic location, or other characteristics, often expressed as a percentage of a base value. It is used to track economic and financial data, such as inflation rates, stock market performance, and the cost of living. Thus, it is considered a special type of average, as it typically represents an average change in a collection of data points over time or across different entities.

Index Number Is a Special Type of ----------