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Index Numbers in Statistics: Uses & Examples

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following is an example of a real-world index number?

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1. The following are some index numbers from the Dow Jones Industrial Average. Which year did businesses in the US do best?

2. Which of the following numbers from the Consumer Price Index shows the least inflation?

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About This Quiz & Worksheet

Index numbers are useful to know in the study of statistics and economics, and this quiz/worksheet will help you test your understanding of them as well as related economic principles.

Quiz & Worksheet Goals

In this assessment you'll be tested on examples and principles of:

  • Index numbers
  • The Dow Jones Industrial Average
  • The Consumer Price Index
  • Inflation as related to the Consumer Price Index

Skills Practiced

  • Problem solving - use acquired knowledge to solve practice problems involving inflation
  • Knowledge application - use the knowledge you've gained to answer questions regarding index numbers from the Dow Jones Industrial Average and the Consumer Price Index
  • Information recall - access your knowledge to spot an example of a real world index number

Additional Learning

Index Numbers in Statistics: Uses & Examples is the accompanying lesson that covers these additional objectives:

  • Understand the uses of index numbers
  • Familiarize yourself with two examples of real world index numbers
  • Know how to recognize an increase to an index number
  • Understand how to recognize and calculate inflation
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