If the price of Brand A is transformed to a value of 100 and Brand B's value is 75, indicating its price is 25 percent lower than Brand A's price, 100 and 75 represent _____.
A) nominal rankings
B) bivariate statistics
C) p-values
D) index numbers

Question

Quizplus · Accepted Answer

100 and 75 are index numbers. They represent the relative value of each brand's price compared to a base value of 100 for Brand A. This is a common use of index numbers in economics and finance.

If the Price of Brand a Is Transformed to a Value