Meaning and Characteristics of Index Numbers. An index number is a method of evaluating variations in a variable or group of variables in regards to the geographical location, time, and other features. The base value of the index number is usually 100, which indicates price, date, a level of production, and more.
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Meaning and Characteristics of Index Numbers. An index number is a method of evaluating variations in a variable or group of variables in regards to the geographical location, time, and other features. The base value of the index number is usually 100, which indicates price, date, a level of production, and more.