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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.
Example of Subtraction of Fractions: 1/3 + 1/6 + 1/8 = ____ Using trial & error we could search that 24 is the LCD or smallest number in which 3, 6, and 8 will all divide w
i have problems with math and my teacher said that i am still progressing in math
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