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okay so were in the video now on retail price indices and index numbers and chain base index numbers and weighted index numbers so hopefully this will give some ideas of what to do first thing we do need to know that is some formulas so lets have a reminder about what the formulas are so the basic idea of an index number is to find the index number we take the current price we divide it by the base year price and then we times it by 100 if we want a chain base index number then we take the current price / the previous years price times a hundred and everyones awaited index number theyre going to take the sum of the waitings times the index numbers or the mean index numbers divided by the sum of the waitings Ill go through an example of using each of these formulas so that you can see how they work but the basic idea of an index number is it is a number so for example if youre given an index number say 107 what is index number is telling you is that theres a 7% increase its