General Studies · Index Numbers
What is the primary purpose of constructing index numbers in statistics and economics?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To measure and compare relative changes in related variables over time or space✓
- 2To assess the purchasing power of money under constant income conditions
- 3To calculate the statistical variance of a population sample
- 4To directly estimate unknown population parameters
Correct answer
To measure and compare relative changes in related variables over time or space
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