Normalisation is a data preprocessing technique used in statistics, to scale and transform numerical data of different units and measurement scales to a common measurement scale. This helps in improving the performance and convergence of certain algorithms that are sensitive to the scale of measurement of input variables. Here...

Here are a few techniques of combining multiple variables to get a composite index:1. Simple average: The Simple average method involves taking the average of the values of each variable in the dataset. This approach assumes that all variables are equally important and treat them equally. The resulting composite index...