- 25 Marks
QMDM – JULY 2020 – L2 – Q5 – Index Numbers and Time Series
Explain four concepts related to index numbers, key elements of time series, and its uses in forecasting.
Question
For your next presentation to the management team of your bank, you have been asked to explain the following:
(a) Explain, with reference to index numbers, any four of the following:
(i) Indices numbers – their uses and construction.
(ii) A expenditure index.
(iii) A price index.
(iv) The base period.
b. i) The key elements of a time series.
(ii) The uses of a time series for forecasting.
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