1. Why are index numbers necessary? Why cant we compare raw numbers directly with each other? 2....
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1. Why are index numbers necessary? Why can’t we compare raw numbers directly with each other?
2. How do unweighted aggregate price index numbers differ from weighted aggregate price index numbers?
3. Why do weighted aggregate price index numbers provide a more realistic picture than unweighted aggregate price index numbers? Give an example to explain your answer.
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1 Index numbers are necessary because they provide a way to compare and analyze data over time or across different groups Raw numbers such as absolute ...View the full answer
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Related Book For 
Business Statistics For Contemporary Decision Making
ISBN: 9781119577621
3rd Canadian Edition
Authors: Ken Black, Ignacio Castillo
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