INDEX NUMBERS

4. Index method using current year quantities as weights
5. YEAR Year chosen as reference for comparison
7. PRODUCTION Index measuring changes in industrial output (IIP)
8. PEARSON Statistician who developed the correlation coefficient method
9. Problems like the choice of base year, commodity selection, and regional variation
11. OF LIVING Index showing changes in household expenditure
12. Importance assigned to items in weighted index numbers
13. Index numbers help in international or inter-temporal analysis
16. Index method using base year quantities as weights
17. IDEAL Index combining Laspeyres and Paasche, considered “ideal”

1. INDEX Measures changes in quantities produced or consumed
2. PRICE Index based on prices at the bulk trade level (WPI)
3. Process of converting nominal values into real values using index numbers
6. Subject where index numbers are studied
10. NUMBER A statistical measure showing changes in a variable or group of variables over time
11. PRICE Index reflecting changes in retail prices for households (CPI)
14. Rise in the general price level measured by index numbers
15. INDEX Measures changes in total value (price × quantity)