单词 | index number |
释义 | index number A number used to represent the changes in a set of values between a base year and the present. If the index reflects fluctuations in a single variable, such as the price of a commodity, the index number can be calculated using the formula: 100(pn/p0), where p0 represents the price in the base year and pn represents the price in the current year. In practice many indices reflect variations in a combination of variables, such as the raw materials required to manufacture a product. In this situation it is necessary to produce an index that weights the important variables; these are known as weighted aggregate indices. If both costs and quantities have varied over a period, it is further necessary to find a way of using the same quantities for the numerator and denominator of the index. When the calculation uses base-year quantities as the fixed point, the resultant index is a base-weighted (or Laspeyres') index, i.e.: 100(total cost of base year quantities at current prices/total cost of base year quantities at base year prices), or 100(∑pnq0/∑p0q0), where p represents the price and q represents the quantity. When the calculation uses current year quantities, it is known as current-weighted (or Paasche's) index, i.e.: 100(total cost of current quantities at current prices/total cost of base year quantities at current prices), or 100(∑pnqn/∑p0qn). See also: |
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