Tests for an ideal index number, Mathematics

Tests for an Ideal Index Number

1. Factor Reversal Test

Factor Reversal Test indicates that when the price index is multiplied along with a quantity index that is factors are reversed, it should result in the value index.

2. The time reversal test

If we reverse the time subscripts of a quantity or price index, the result must be reciprocal of the original index.

 

Posted Date: 2/18/2013 4:43:29 AM | Location : United States







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