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A quantity which shows by its variations the changes of a magnitude over time or space.

Index type refers to any of the various indices (e.g., Laspeyres, modified Laspeyres, Paasche, Value-Added, Fisher, Törnqvist, etc.) used in the statistical production process.

Important features in the construction of an index number are its coverage, base period, weighting system and method of averaging observations. A price index reflects an average of the proportionate changes in the prices of a specified set of goods and services between two periods of time (United Nations, "System of National Account (SNA) 1993", 16.14, available at http://unstats.un.org/unsd/sna1993/introduction.asp).

Source Publication:
The International Statistical Institute, “The Oxford Dictionary of Statistical Terms”, edited by Yadolah Dodge, Oxford University Press, 2003.

Cross References:
Base period
Chain index - ISI
Compilation practices
Index number, Laspeyres

Statistical Theme: Methodological information (metadata)

Glossary Output Segments:

Created on Tuesday, May 21, 2002

Last updated on Monday, December 19, 2005