The Making of Index Numbers a Study of Their Varieties Tests And Reliability

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68 0-2-1-4-3-5 +. 59 0-4-2-1-3-5 -. 02 0-2-1^-5-3 +. 81 0-4-2-3-1-5 -. 16 0-2-1-5-3-4 +. 16 0-4-3-1-2-5 +. 42 0-2-1-5-4-3 +. 56 0-4-3-2-1-5 +. 25 7. Discussion of the "Circular Gap" of Formula 353 Tables 34-37 give all the possible circuits among the years 1913-1918, and the " gap " found for each circuit according to Formula 353. As we have seen, these devia- 284 THE MAKING OF INDEX NUMBERS tions are normal phenomena, not errors, but fortunately they are so small that for practical purposes th...ey are not worth taking into account. The maximum gap among all the 20 possible triangular comparisons is, as already noted, only . 48 per cent (for the circuit of the three years 1-2-5). The maximum gap among all the 45 possible quadrangular circuits is . 81 per cent (for the years 1-2-5-4). The maxi- mum for the 72 5-around comparisons is . 89 per cent (for 0-2-1-4-3 or 1-2-5-3-4). Lastly, the maximum for the 60 6-arounds is 1. 19 per cent (for the years 0-3-4-1-2-5).
Even these gaps are unusually large.


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