I'm really interested in index scores like the human development index or economic freedom index where they rank things on a 0-100 scale based off of a bunch of different variables (e.g. press freedom, property rights, etc). I would like to do this with z-scores for multiple columns in a Python notebook.
I'm able to calculate the Z scores just fine using scipy:
from scipy.stats import zscore no_income_data_important_columns_only.apply(zscore)
and get something like: I understand these z-scores are telling me how high or low the values are relative to the average. But now I want to be able to understand how high or low each row is across all of the measurements/columns...
I don't really know what to do with all the Z-scores in order to calculate an index or composite score (on a 0 to 100 scale). Do I multiply them or add them together or do something else to aggregate them?