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The Marshall-Edgeworth index, credited to Marshall (1887) and Edgeworth (1925), [11] is a weighted relative of current period to base period sets of prices. This index uses the arithmetic average of the current and based period quantities for weighting. It is considered a pseudo-superlative formula and is symmetric. [12]
Index numbers are used especially to compare business activity, the cost of living, and employment. They enable economists to reduce unwieldy business data into easily understood terms. In contrast to a cost-of-living index based on the true but unknown utility function, a superlative index number is an index number that can be calculated. [1]
A CPI is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically. Sub-indices and sub-sub-indices can be computed for different categories and sub-categories of goods and services, which are combined to produce the overall index with weights reflecting their shares in the total of the consumer expenditures covered by the ...
Adjustment Factor = Index specific constant "Z" / (Number of shares of the stock * Adjusted stock market value before rebalancing) A stock trading at $100 will thus be making up 10 times more of the total index compared to a stock trading at $10. The Dow Jones Industrial Average and Nikkei 225 are examples of price-weighted stock market indexes.
The weight function ():= corresponds to the unweighted situation in which all elements have equal weight. One can then apply this weight to various concepts. If the function : is a real-valued function, then the unweighted sum of on is defined as
In statistics and research design, an index is a composite statistic – a measure of changes in a representative group of individual data points, or in other words, a compound measure that aggregates multiple indicators. [1] [2] Indices – also known as indexes and composite indicators – summarize and rank specific observations. [2]
The effective exchange rate index describes the strength of a currency relative to a basket of other currencies. Although typically the basket is trade weighted, there are others besides the trade-weighted effective exchange rate index. Ho (2012) proposed a new approach to compiling effective exchange rate indices.
UPGMA (unweighted pair group method with arithmetic mean) is a simple agglomerative (bottom-up) hierarchical clustering method. It also has a weighted variant, WPGMA , and they are generally attributed to Sokal and Michener .