MarketIndicesMarketIndices,?,,,value,putationprocedurestypeofaveragingMethodofadjustingforsplits,,-weightedseriesExample:DowJonesIndustrialAverage(DJIA)paniestendtolosetheirimportanceinaveragesbecauseofstocksplitsMarketIndices,+1NumberofsharesattNumberofsharesatt+1X$10$15100100Y$20$15150150Z$30$18200400StockZsplit2:1betweentandt+1MarketIndices,price-weightedaverageAveraget =(10+20+30)/3=20Divisorfort+1:ThevalueXthatwouldmake: [10+20+(30/2)]/X=20X=+1 =(15+15+18)/ =,-weightedseriesAvalue-weightedseriesusesthemarketvalueoftheseriesatapointintimeasitsbase.(.,base=100),value-weightedseriesContinuingsameexample,butthebasevalueis$5,,,continuedFort+1:
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