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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.
15 is 30% of what number?
What is Inductive Reasoning ? Sometimes we draw conclusions based on our observations. If we observe the same results again and again, we conclude that the event always has the
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Definite Integral : Given a function f ( x ) which is continuous on the interval [a,b] we divide the interval in n subintervals of equivalent width, Δx , and from each interval se
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