Index numbers require which level of measurement?
A)nominal
B)interval
C)ratio
D)ranked

Question

Quizplus · Accepted Answer

Index numbers are a type of measurement that compares the value of a variable at two different points in time. To calculate an index number, you need to know the value of the variable at both points in time, and you need to be able to express the value of the variable in terms of a ratio. For example, if you want to calculate the index number for the price of a gallon of milk, you would need to know the price of a gallon of milk at two different points in time, and you would need to be able to express the price of a gallon of milk in terms of a ratio.

Index Numbers Require Which Level of Measurement