The motivation for using an index number is to ________________.
A)transform the data to a standard normal distribution
B)transform the data for a linear model
C)eliminate bias from the sample
D)reduce data to an easier-to-use, more convenient form
E)reduce the variance in the data

Question

Quizplus · Accepted Answer

Index numbers are primarily used to simplify and standardize data, making it easier to compare and analyze over time or across different entities. They do not inherently transform data distributions, eliminate bias, or reduce variance.

The Motivation for Using an Index Number Is to ________________