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What is Chain Based Index Numbers?
A chain based index is one whereas the index is calculated every year by using the previous year as the base year. This kind of index measures rate of change from year to year.
This method is appropriate where weights are changing rapidly and items are constantly being brought into the index and unwanted items taken out. This can be a quantity or price index
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A pair of pants costs $24. The cost was decreased by 8%. What is the new cost of the pants? If the cost of the pants is decreased by 8%, the cost of the pants is 92 percent of
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It takes the moon an average of 27.32167 days to circle the earth. Round this number to the closest thousandth. The thousandths place is the third digit to the right of the dec
Expected opportunity loss or EOL method EOL method is aimed at minimizing the expected opportunity loss or OEL. The decision maker chooses the strategy along with the minimum e
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Mark intends to tile a kitchen floor, which is 9 by 11 ft. How many 6-inch tiles are required to tile the floor? a. 60 b. 99 c. 396 c. Since the tiles are calculated in
(6x+9y) + (11x+13y)
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