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Index Number — Concept Maps

Gujarat Board · Class 12 · Statistics

4 concept maps of Index Number for Gujarat Board Class 12 Statistics, each also written out as a text outline.

12 formulas & key relations5 concepts

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4 Concept Maps

Index Number – Complete Chapter Overview

Index Number – Complete Chapter Overview

The map in words

  • Index Number
    • Definition
      • Relative percentage change
      • Current vs Base period
      • Unit free measure
    • Characteristics
      • Free from units
      • Comparative measure
      • Percentage change
      • Special average
    • Base Year Methods
      • Fixed Base Method
        • Same base year always
        • Long term comparison
        • Formula FBI formula
      • Chain Base Method
        • Previous year as base
        • Short term comparison
        • Formula CBI formula
      • Conversion
        • FBI to CBI
        • CBI to FBI
    • Formulae
      • Laspeyre
        • Uses base year qty q0
        • L = Sp1q0 by Sp0q0 x 100
      • Paasche
        • Uses current year qty q1
        • P = Sp1q1 by Sp0q1 x 100
      • Fisher Ideal
        • GM of L and P
        • F = sqrt L x P
        • Time Reversal Test
        • Factor Reversal Test
    • Cost of Living Index
      • Construction Steps
        • Purpose
        • Family Budget Inquiry
        • Price Relatives
        • Weights
      • Methods
        • Total Expenditure Method
        • Family Budget Method
      • Applications
        • Purchasing Power
        • Real Income
        • DA and Wages
    • Uses
      • Wholesale Price Index
      • Industrial Production
      • Agricultural Production
      • Import Export
      • Employment
      • National Income

Which Formula to Use? — Index Number Decision Tree

Which Formula to Use? — Index Number Decision Tree

The map in words

  • Start: What type of Index?
    • Weights given?
      • No weights: Simple Average of Price Relatives
        • Index = Sum of price relatives divided by n x 100
      • Yes weights: Which year quantity as weight?
        • Base year q0: Laspeyre's Index L
          • L = Sum p1q0 divided by Sum p0q0 x 100
        • Current year q1: Paasche's Index P
          • P = Sum p1q1 divided by Sum p0q1 x 100
        • Both years: Geometric Mean needed?
          • Yes: Fisher's Ideal Index F = sqrt L x P
            • F = square root of L multiplied by P
          • No: Weighted Average Method

Index Number - Complete Chapter Overview

Index Number - Complete Chapter Overview

The map in words

  • Index Number
    • Definition
      • Percentage change
      • Current vs Base period
      • Relative measure
    • Types
      • Price Index
      • Quantity Index
      • Cost of Living Index
    • Base Year Methods
      • Fixed Base
        • Constant year
        • Long term use
      • Chain Base
        • Preceding year
        • Short term use
    • Formulae
      • Laspeyres
        • Uses q0 weight
        • Σp1q0 over Σp0q0
      • Paasche
        • Uses q1 weight
        • Σp1q1 over Σp0q1
      • Fisher Ideal
        • Geometric mean
        • Square root of L times P
    • Cost of Living
      • Family Budget Method
        • ΣIW over ΣW
      • Uses
        • Purchasing power
        • Real income
        • DA and Bonus

Index Number

Index Number

The map in words

  • Index Number
    • Definition and Meaning
    • Characteristics
    • Uses of Index Number
    • Base Year
    • Computation Methods
    • Cost of Living Index
    • Base Conversion

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Frequently Asked Questions

What are the important topics in Index Number for Gujarat Board Class 12 Statistics?
Key topics in Index Number include Definition and Meaning of Index Number, Characteristics and Uses of Index Number, Base Year — Fixed Base Method and Chain Base Method, Conversion Between Fixed Base and Chain Base Index Numbers. Study these first, then practise questions on each for the Gujarat Board Class 12 board exam.
What do the concept maps for Index Number show?
The 4 maps show how the ideas in Index Number connect: Index Number – Complete Chapter Overview; Which Formula to Use? — Index Number Decision Tree. Each map is also written out as an outline on this page.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

More resources for Index Number

All Gujarat Board Class 12 Statistics Concept Maps

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