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User:Jukeboksi/BBA studies/Math
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=== Business Math 1 - Session 2: Indices === * '''[[w:Index (economics)]]''' - In [[w:economics]] and [[w:finance]], an index is a statistical measure of changes in a representative group of individual data points. ( Wikipedia ) * calculation of simple indices, * A '''[[w:price index]]''' ( [[w:fi:Hintaindeksi]] ) (''plural'': “price indices” or “price indexes”) is a normalized [[w:average]] (typically a [[w:Weighted mean|''weighted'' average]]) of [[w:price]]s for a given class of [[w:Good (economics)|goods]] or [[w:Service (economics)|services]] in a given region, during a given interval of time. It is a [[w:statistic]] designed to help to compare how these prices, taken as a whole, differ between time periods or geographical locations. ( Wikipedia ) * A '''[[w:consumer price index]]''' ('''[[w:CPI]]''') ( [[w:fi:Kuluttajahintaindeksi]] ) measures changes in the price level of [[w:Final goods|consumer goods]] and [[w:Consumer Services|services]] purchased by households. ( Wikipedia ) * A '''[[w:cost-of-living index]]''' is a theoretical [[w:price index]] that measures relative [[w:cost of living]] over time or regions. It is an index that measures differences in the price of [[w:good (economics)|goods]] and [[w:service (economics)|service]]s, and allows for substitutions to other items as prices vary. ( Wikipedia )
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