Mathematics · Statistics
What is the primary purpose of an Index Number?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To measure specific changes in market price only
- 2To measure direct changes in consumer demand only
- 3To measure absolute changes in quantity only
- 4To measure relative changes in a variable or a group of variables over a period of time✓
Correct answer
To measure relative changes in a variable or a group of variables over a period of time
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