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There are different types of index numbers, so the advantages and disadvantages would change depending on what type was used. However, in general, the main advantage is ease of use in finding a particular item on the index, the main disadvantage is that all items are treated equally, regardless of true value.
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∙ 10y ago
Advantages of index numbers include easy comparison of data over time or between different categories, ability to simplify complex data into a single number, and usefulness in tracking trends. Disadvantages may include difficulty in choosing an appropriate base year, sensitivity to outliers, and potential for misinterpretation if not used correctly.
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