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The statistical measure of the weighted average of prices of goods purchased by an urban wage earner is called t?
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∙ 11y ago
Consumer Price Index
Wiki User
∙ 11y ago
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What measures the prices of products typically purchased by consumers and is used to measure inflation?
measures the prices of products typically purchased by consumers and is used to measure inflation
What is the average cost of land per acre in the US?
One way to measure this is: (total value of all US real estate) / (total land mass of the US) This is probably the simplest possible method but it has several problems. For one thing the land mass includes lots of federal land and land that nobody wants. For another, it is hard to measure the value of real estate that isn't actually for sale. If some crazy guy won't sell his land for less than a trillion dollars, how should that be weighted into the average? Ok, then well, how much does it usually cost in Washington from a real estate agency or something?
A market basket of goods the government uses to measure inflation?
The government uses a market basket of goods to measure inflation. The market basket of goods is a collection of items that are representative of the overall economy. The items in the market basket are weighted based on their importance in the economy. The weights are updated periodically to ensure that they accurately reflect the current economy.
What does the per capita GDP measure?
The Per Capita is measured by the average income. Each year it is measured.
Which is used to measure directly the average standard of living across countries?
National income
What is statistical average?
average is defined as a single value which has tendency to represent the data as a whole. averages are also called "measure of central tendency" or "measure of location"
Consumer price index (CPI)?
a measure that examines the weighted average of prices of a basket of consumer goods and services
What is the difference between the sample of the population and the average of the population?
A sample of a population is a subset of the population. The average of the population is a statistical measure for some variable of the population.
What is the statistical function that accurately measures what it is intended to measure?
There is none. If an accurate measure was possible then statistical techniques would not be required. A maximum likelihood estimate is probably better than other statistical estimates.
What does weighted average mean?
The weighted arithmetic mean is used, if one wants to combine average values from samples of the same population with different sample sizes: : The weights wi represent the bounds of the partial sample. In other applications they represent a measure for the reliability of the influence upon the mean by respective values. rhinostar
What does life expectancy measure?
Life expectancy is a statistical measure of the average time an organism is expected to live, based on the year of their birth, their current age and other demographic factors including sex.
How can you find the depth of a river?
You drop a weighted line and measure when it touches bottom.
What is the statistical measure of a relationship between two variables?
corrrelation
How is HDI measured?
The Human Development Index (HDI) is a composite measure based on a weighted average of indices of life expectancy (at birth), education (measured by enrolment statistics) and income per capita.
What is the use of median?
It is a statistical measure that helps you understand the sample/population data.
A statistical measure of the association between two variables is called a?
Correlation Coefficient.
What is the difference in mass and weight?
The atomic mass may be considered to be the total mass of protons, neutrons and electronStandard atomic weight refers to the mean relative atomic mass of an element in the local environment of the Earth's crust and atmosphere
