26. Lesson 4(DOT)6(COLON) Index numbers and measuring change over time
Applying Lesson 4.6: Index Numbers And Measuring Change Over Time — Quiz
Test your understanding of applying lesson 4.6: index numbers and measuring change over time with 5 practice questions.
Practice Questions
Question 1
What is the primary purpose of an index number in statistics?
Question 2
If a price index for a basket of goods is calculated and shows a value of $120, what does this indicate?
Question 3
Which of the following is an example of a simple index number?
Question 4
What is the formula for calculating a simple index number?
Question 5
If the inflation rate is 5% and the previous year's index was 110, what would be the new index?