Chain base index numbers (AQA GCSE Statistics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
ShowHide
Practise the questions
10 questions from this quiz
What does a chain base index of 100 indicate?
What does a chain base index of 100 indicate?
Values stayed the same
How do you calculate a chain base index?
How do you calculate a chain base index?
Value this year/Value last year
If last year's price was £200 and index is 115, what's this year's price?
If last year's price was £200 and index is 115, what's this year's price?
£230
What is the main difference between chain and simple indices?
What is the main difference between chain and simple indices?
Base year changes yearly
What does a chain base index of 120 signify?
What does a chain base index of 120 signify?
20% increase
If CPI rises by 0.7%, what is the chain base index?
If CPI rises by 0.7%, what is the chain base index?
100.7
Why do equal price increases yield different index numbers?
Why do equal price increases yield different index numbers?
Different base values
What is the formula to find new prices from chain indices?
What is the formula to find new prices from chain indices?
Index/100 * Last year's price
What does a chain base index of 95 indicate?
What does a chain base index of 95 indicate?
5% decrease
What is a common mistake in chain index calculations?
What is a common mistake in chain index calculations?
All of the above