Index Number/Examples
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Examples of Index Numbers
Examples of economic indicators that are often assigned an index number include:
- magnitude of business activity
- wages
- cost of living
- share prices
- imports
and so on.
Arbitrary Example
Let the price of an item $I$ be $50$ in the base year.
Let the price of $I$ be $55$ and $70$ in the two subsequent years.
Then the index number of $I$ based on its price would be $100$, $110$ and $140$ for those successive years.
Sources
- 1998: David Nelson: The Penguin Dictionary of Mathematics (2nd ed.) ... (previous) ... (next): index (plural indices)${}$: 1. (index number)
- 2008: David Nelson: The Penguin Dictionary of Mathematics (4th ed.) ... (previous) ... (next): index (plural indices)${}$: 1. (index number)