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Simple Index Number Formula Explained 12th Math Statistics
Dive into the basics of index numbers with our quick guide on the simple index number formula, perfect for 12th-grade math and statistics students. The simple index number, also known as the price relative, is given by the formula I = (p1/p0) * 100, where p1 is the price in the current period and p0 is the price in the base period. This formula ...
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