By Jeff Ralph, Rob O'Neill, Joe Winton
This ebook presents an creation to index numbers for statisticians, economists and numerate contributors of the general public. It covers the basic fundamentals, blending theoretical elements with useful suggestions to offer a balanced and obtainable advent to the topic. The innovations are illustrated through exploring the development and use of the shopper costs Index that's arguably an important of all legitimate data within the united kingdom. The publication additionally considers present concerns and advancements within the box together with using large-scale rate transaction data.
A useful advent to Index Numbers could be the perfect accompaniment for college students taking the index quantity parts of the Royal Statistical Society traditional and better certificates tests; it offers instructed routes in the course of the booklet for college kids, and units of routines with solutions.
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Extra resources for A Practical Introduction to Index Numbers
Source: Eurostat. eu/portal/page/portal /statistics/search_database. Eurostat is the statistical office of the European Union and it is a Web site that provides access to all Eurostat’s statistical databases and the associated electronic publications. 2, we can see that while the populations of the EU and the United Kingdom have risen steadily throughout the time period, the population of Germany has remained fairly stable and the population of Cyprus has risen dramatically, with a large surge in growth between 2003 and 2006.
2 Number of goals 2005/2006 to 2012/2013. 3. 3 Index of salary 2009–2014. 0 Richard’s colleague Catherine has a salary of £33 000 in 2014. Catherine would like to know what her salary was in 2009. Her salary has moved in exactly the same way as Richard’s during this period. a. Using the index of salary above, calculate Catherine’s salary in 2009. b. Calculate Catherine’s salary in the remaining years, 2010–2013. 1 What is inflation? According to the Palgrave dictionary of economics, inflation refers to a rise in the price level or a fall in the value of money .
4 35 Example – Retail Sales Index The Retail Sales Index (RSI) produced by the Office for National Statistics in the UK measures the growth in value of sales for different retail sectors. 3 shows the growth in the value of retail sales from June 2012 to June 2013 for three retail sectors: ‘Predominantly Food Stores’, ‘Automotive Fuel’ and ‘Textiles, Clothing and Footwear’. 3 Value of retail salesa June 2013. 2 Non-seasonally adjusted. 3, it is clear that there has been an increase in the value of retail sales (the amount of money spent) for all three sectors, but the value alone cannot explain the underlying reasons for the growth.