Question

index number is a tool​

Answer 1

Answer:

An index number in statistics is a tool that we generally use to measure the difference in relative changes from time to time. The difference can also be from place to place. It can be thought of as the arithmetic mean that we use to find or represent some values of a particular data set.

Answer 2

Reference number is a tool is:

• Reference Number is a mathematical tool that measures changes in a variable level or group of variables that are related over a period of time, or over two different conditions.

• Reference numbers apply to economic time series values.

• It shows the general related changes used primarily by economists to present a series of economic data time periods and to facilitate comparisons between variables over time.

Reference Number Features are:

• A special measure.

• Percentage shown.

• Ratio of related change.

• Measuring the effect of those factors whose accuracy is measured is difficult.