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The _______Index Measures Changes in the Prices of Goods and Services

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The _______index measures changes in the prices of goods and services such as food,housing,and apparel.


Definitions:

Midrange

The arithmetic average of the maximum and minimum values in a data set.

Variance

A measure of the dispersion or spread of a set of data points, indicating how much they differ from the mean.

Range

The difference between the highest and lowest values in a data set, indicating the spread or dispersion of the set.

Chebyshev's Theorem

A statistical theorem that gives an inequality for assessing the probability that a random variable differs from its mean.

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