# Stats GCSE Index numbers

Studied by 6 people
5.0(1)
get a hint
hint

What does an index number do?

1 / 20

## Tags and Description

### 21 Terms

1

What does an index number do?

Compares the price change of an item with its base year price

New cards
2

How to calculate index numbers

(price/base year price)*100

New cards
3

What does an index number mean?

100=increase

<100=decrease

New cards
4

What’s the retail price index?

Shows a rate of change of prices of everyday goods

New cards
5

Examples of what the RPI is about

Mortgages, food and heating

New cards
6

What’s the consumer price index?

Official measure of inflation used by UK government

New cards
7

What’s the difference between RPI and CPI?

CPI doesn’t include mortgage payments

New cards
8

What’s the gross domestic product?

Value of goods and services produced in a country in a given amount of time

New cards
9

What means an economy is in recession?

If the GDP falls for 2 or more quarters

New cards
10

What does a weighted index number do?

It takes into account proportions

New cards
11

How to calculate the weighted index number

(sum of (index number*weight))/sum of weights

New cards
12

What does a chain base index number do?

Compares prices from each year to the previous year

New cards
13

How to calculate CBIN

(price/last year’s price)*100

New cards
14

What kind of index numbers are RPI and CPI?

CBIN that show annual or monthly changes

New cards
15

What’s the crude birth rate?

Number of births per thousand of the population

New cards
16

What’s the crude death rate?

Number of deaths per thousand of the population

New cards
17

How to calculate crude rate

(number of births or deaths/total population)*1000

New cards
18

What’s the standard population?

Hypothetical population of 1000 people used to represent the whole population

New cards
19

How to calculate standard population

(number in age group/total population)*1000

New cards
20

What does a standardised rate do?

Allows you to compare the same age group in different populations.

New cards
21

How to calculate the standardised rate

(crude rate/1000)*standard population

New cards

## Explore top notes

Note
Studied by 10 people
Updated ... ago
5.0 Stars(1)
Note
Studied by 15 people
Updated ... ago
5.0 Stars(1)
Note
Studied by 11 people
Updated ... ago
5.0 Stars(1)
Note
Studied by 4 people
Updated ... ago
5.0 Stars(1)
Note
Studied by 10 people
Updated ... ago
5.0 Stars(1)
Note
Studied by 168 people
Updated ... ago
5.0 Stars(1)
Note
Studied by 67 people
Updated ... ago
5.0 Stars(1)
Note
Studied by 15 people
Updated ... ago
4.0 Stars(1)

## Explore top flashcards

Flashcard28 terms
Studied by 1 person
Updated ... ago
5.0 Stars(1)
Flashcard54 terms
Studied by 7 people
Updated ... ago
5.0 Stars(1)
Flashcard54 terms
Studied by 8 people
Updated ... ago
5.0 Stars(1)
Flashcard28 terms
Studied by 1 person
Updated ... ago
5.0 Stars(1)
Flashcard40 terms
Studied by 25 people
Updated ... ago
5.0 Stars(2)
Flashcard35 terms
Studied by 23 people
Updated ... ago
5.0 Stars(1)
Flashcard90 terms
Studied by 6 people
Updated ... ago
5.0 Stars(1)
Flashcard166 terms
Studied by 4 people
Updated ... ago
5.0 Stars(1)