Answered: 115 155 3 60 100 125 4 55 110

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.2: Representing Data

Problem 22PFA

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The following data shows prices of three types of fruits over ten years.

Year	Mango	Orange	Blackberry
1	50	100	150
2	55	115	155
3	60	100	125
4	55	110	130
5	63	120	120
6	65	110	125
7	70	105	140
8	75	120	170
9	60	130	160
10	65	135	175

Take year 1 as the base year. In that year the production of Mango, Orange, and Blackberry was 50, 25,
and 15 thousand kilograms respectively.
a) Find the un-weighted index of prices.
b) Find the Laspeyres index for fruit prices.
c) What is the change in price from year 6 to year 7 if you use un-weighted index.
d) What is the change in price from year 6 to year 7 if you use Laspeyres index.
e) Is answer to c is different from answer to d. Explain your answer

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