Mitchell Index

The statistical Index

$$P_M\equiv {\sum p_nq_a\over \sum p_0q_a},$$

where $p_n$ is the price per unit in period $n$ and $q_n$ is the quantity produced in period $n$.

See also Index

References

Kenney, J. F. and Keeping, E. S. Mathematics of Statistics, Pt. 1, 3rd ed. Princeton, NJ: Van Nostrand, pp. 66-67, 1962.