Roy C. Geary in the context of "Central Statistics Office (Ireland)"

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⭐ Core Definition: Roy C. Geary

Robert (Roy) Charles Geary (April 11, 1896 – February 8, 1983) was an Irish mathematician, statistician and founder of both the Central Statistics Office and the Economic and Social Research Institute. Geary is known for his contributions to the estimation of errors-in-variables models, Geary's C, the Geary–Khamis dollar, the Stone–Geary utility function, and Geary's theorem, which has that if the sample mean is distributed independently of the sample variance, then the population is distributed normally.

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Roy C. Geary in the context of International dollar

The international dollar (int'l dollar or intl dollar, symbols Int'l$., Intl$., Int$), also known as Geary–Khamis dollar (symbols G–K$ or GK$), is a hypothetical unit of currency that has the same purchasing power parity that the U.S. dollar had in the United States at a given point in time. It is mainly used in economics and financial statistics for various purposes, most notably to determine and compare the purchasing power parity and gross domestic product of various countries and markets. The year 1990 or 2000 is often used as a benchmark year for comparisons that run through time. The unit is often abbreviated, e.g. 2000 US dollars or 2000 International$ (if the benchmark year is 2000).

It is based on the twin concepts of purchasing power parities (PPP) of currencies and the international average prices of commodities. It shows how much a local currency unit is worth within the country's borders. It is used to make comparisons both between countries and over time. For example, comparing per capita gross domestic product (GDP) of various countries in international dollars, rather than based simply on exchange rates, provides a more valid measure to compare standards of living. It was proposed by Roy C. Geary in 1958 and developed by Salem Hanna Khamis between 1970 and 1982.

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