The index which measures the change in prices of goods and services purchased by specific class or group of people…
In case of average of weighted relatives, price relative of each commodity is multiplied by the weight of that commodity…
In case of unweighted average of relatives, price relative of each commodity is first calculated and then average (mean, median…
The ratio of the sum of weighted prices of current and base time periods multiplied by 100 is called weighted…
The method in which sum of prices of all the commodities in the current period is divided by the total…
Simple price index is a percentage ratio that represents a comparison for a single commodity. For example, let the price…
The line which expresses the trend of two observed values is called a regression line. For example if the sample…
Rank correlation is used in a situation when the variable under consideration is not measurable e.g. intelligence, knowledge, experience, beauty…
Correlation measures the degree of interdependence (association) between two variables. If two variables are so related that an increase or…
Characteristic of data which describes the extent to which the observations vary among themselves is called dispersion. In other words…