The Making of Index Numbers: A Study of Their Varieties, Tests, and Reliability (Classic Reprint) - Softcover
Synopsis
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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The Making of Index Numbers: A Study of Their Varieties, Tests, and Reliability
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Paperback. Condition: New. Print on Demand. This book delves into the complex world of index numbers, a crucial tool for measuring economic phenomena like inflation, cost of living, and wage fluctuations. While seemingly straightforward, the construction of index numbers involves intricate choices and methodologies, each with its own strengths and weaknesses. Through meticulous analysis and calculations based on historical data, the author unveils the surprising inaccuracies of some commonly used formulas, while highlighting others with remarkable precision. This exploration clarifies the essential attributes of reliable index numbers and provides practical guidance for their efficient calculation. By demystifying the "fairness" of index numbers and exposing the hidden biases within different approaches, this book equips readers with the knowledge to critically evaluate these powerful economic indicators. Ultimately, it demonstrates how the careful construction and application of index numbers can replace guesswork with scientific measurement, paving the way for a deeper understanding of our economic world. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781440065248_0
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The Making of Index Numbers
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The Making of Index Numbers: A Study of Their Varieties, Tests, and Reliability (Classic Reprint)
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Paperback. Condition: Brand New. 560 pages. 9.00x6.00x1.27 inches. This item is printed on demand. Seller Inventory # zk1440065241
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The Making of Index Numbers : A Study of Their Varieties, Tests, and Reliability (Classic Reprint)
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Forgotten Books Jul 2018, 2018
ISBN 10: 1440065241
ISBN 13: 9781440065248
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