Question

We need Index number to measure ……………. Change in a large number of items. (relative/absolute)

Answer 1

Explanation:

relative is correct answer

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Answer 2

We need Index number to measure relative change in a large number of items.

• An index number is defined as a statistical tool used to map the relative change i.e. variation in the variables over a particular timeframe.
• It is because in some cases, the measure of absolute variation becomes very difficult.
• Index numbers have wide applicability in fields like industrial production and agricultural production.