The Making of Index Numbers: A Study of Their Varieties, Tests, and Reliability (Classic Reprint) - Softcover

Inhaltsangabe

Discover how to measure and compare price changes, wages, and purchasing power with index numbers.

This book explains the theory and practice behind the formulas that track economic values, showing how to test their accuracy and apply them in real data. Grounded in extensive calculations and historical data, the work guides readers from basic types of index numbers to the best methods for precision. It explains how to assess methods, how to test results, and why some formulas are more reliable than others. A central focus is on the ideal formula and how it can be used to clear up confusion in economics and measurement.

• Learn how different index numbers are built, weighted, and tested for accuracy.
• See how tests like the circular test and factor reversal help compare formulas.
• Understand how to handle real-world data for prices, wages, and purchasing power.
• Explore the role of weighting and method selection in producing dependable measures.

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