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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is an index number?
💡 Hint: Think about how we might compare today’s prices to prices in the past.
Question 2
Easy
Name a type of index number.
💡 Hint: Remember the P-Q-V acronym.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What does an index number measure?
- Relative changes in prices
- Absolute changes in values
- Static data
💡 Hint: Think about what we've discussed on how we measure changes over time.
Question 2
True or False: A weighted moving average gives equal importance to all data points.
- True
- False
💡 Hint: Consider how different items might affect averages differently.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Given the following price levels: Year 1: 90, Year 2: 110, Year 3: 120. Calculate the price index number for Year 3 using Year 1 as the base.
💡 Hint: Remember to compare the current price to the base year price.
Question 2
Using a weighted moving average of three data points: 5, 10, 15 with weights 0.5, 1, 1.5 respectively, find the moving average.
💡 Hint: Make sure to multiply each data point by its weight before adding them up.
Challenge and get performance evaluation