Quantitative Reasoning for Business
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Please assist regarding an index based on how people feel about the economy. In this case, the base was 1985 and set at 100. Thus, if the index was at 57.2 in May 2008, and in October 1992 the index was at 54.6, are people feeling better or worse in 2008 than they did in 1992? If the index was at 62.8 in April 2008, what does that mean for May 2008?
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Quantitative reasoning for business is reviewed.
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People are feeling slightly better in 2008 May than they did in 1992, by about (57.2-54.6)/54.6 = 4.76%. In other words, people's quality of living improved by about 4.8% over the 16 year period.
If the index was at 62.8 in ...
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