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If the 1970 index with base 1965 is 200 and 1965 index with base 1960 is 150, the index 1970 on base 1960 will be :?
Most Upvoted Answer
If the 1970 index with base 1965 is 200 and 1965 index with base 1960 ...
(1970) = (1965) + 200
(1965) = (1960) + 150
(1970) = (1960) + 150 + 200
(1970) = (1960) + 350
(That's assuming the index is a linear function. Otherwise, linear combination isn't a valid method of changing the base of the index)
Community Answer
If the 1970 index with base 1965 is 200 and 1965 index with base 1960 ...
Understanding Index Numbers
Index numbers are statistical measures that reflect changes in a variable or a group of related variables over time. They are often used in economics to measure changes in price levels, quantities, or other phenomena.
Given Data
- The index for 1970 with base year 1965 is 200.
- The index for 1965 with base year 1960 is 150.
Converting to a Common Base Year
To find the index for 1970 with base year 1960, we need to convert the 1970 index from the base year 1965 to the base year 1960. This can be achieved by using the following formula:
Formula:
Index (1970, base 1960) = Index (1970, base 1965) × (Index (1965, base 1960) / 100)
Applying the Formula
1. Substitute the known values into the formula:
Index (1970, base 1960) = 200 × (150 / 100)
2. Calculate the values:
Index (1970, base 1960) = 200 × 1.5
Index (1970, base 1960) = 300
Conclusion
The index for 1970 on the base year of 1960 is 300. This indicates that there has been a significant increase in the measure being analyzed when compared to the base year 1960.
Index numbers are statistical measures that reflect changes in a variable or a group of related variables over time. They are often used in economics to measure changes in price levels, quantities, or other phenomena.
Given Data
- The index for 1970 with base year 1965 is 200.
- The index for 1965 with base year 1960 is 150.
Converting to a Common Base Year
To find the index for 1970 with base year 1960, we need to convert the 1970 index from the base year 1965 to the base year 1960. This can be achieved by using the following formula:
Formula:
Index (1970, base 1960) = Index (1970, base 1965) × (Index (1965, base 1960) / 100)
Applying the Formula
1. Substitute the known values into the formula:
Index (1970, base 1960) = 200 × (150 / 100)
2. Calculate the values:
Index (1970, base 1960) = 200 × 1.5
Index (1970, base 1960) = 300
Conclusion
The index for 1970 on the base year of 1960 is 300. This indicates that there has been a significant increase in the measure being analyzed when compared to the base year 1960.
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If the 1970 index with base 1965 is 200 and 1965 index with base 1960 is 150, the index 1970 on base 1960 will be :?
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If the 1970 index with base 1965 is 200 and 1965 index with base 1960 is 150, the index 1970 on base 1960 will be :? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about If the 1970 index with base 1965 is 200 and 1965 index with base 1960 is 150, the index 1970 on base 1960 will be :? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the 1970 index with base 1965 is 200 and 1965 index with base 1960 is 150, the index 1970 on base 1960 will be :?.
If the 1970 index with base 1965 is 200 and 1965 index with base 1960 is 150, the index 1970 on base 1960 will be :? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about If the 1970 index with base 1965 is 200 and 1965 index with base 1960 is 150, the index 1970 on base 1960 will be :? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the 1970 index with base 1965 is 200 and 1965 index with base 1960 is 150, the index 1970 on base 1960 will be :?.
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