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10 cards from this deck
It measures changes in items with different importance.
Use: Σ(value × weight) / Σweights.
Index = (current mean / base mean) × 100.
It shows an increase from the base year.
Weighted mean = (2.501000 + 2.802000) / 3000 = £2.67.
Index = (3.71 / 2.71) × 100 = 136.9.
It shows the average considering item importance.
It serves as a reference point for comparisons.
Subtract 100 from the index number.
It must fall between the smallest and largest values.
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