Answered: A large manufacturer purchases an…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

A large manufacturer purchases an identical component from three independent suppliers that differ in unit price and quantity supplied. The relevant data for 2012 and 2014 are given here.

	Unit Price ($)
Supplier	Quantity (2012)	2012	2014
A	150	5.45	6.00
B	200	5.60	5.95
C	160	5.50	6.20

(a)

Compute the price relatives for each of the component suppliers separately. (Round your answers to the nearest integer.)

Item	Price Relative
A	?
B	?
C	?

Compare the price increases by the suppliers over the two-year period.

(all/some/no)?? prices increased, with the greatest price relative being from supplier (a,b,c)?? and the smallest price relative being from supplier (a,b,c)?? .

(b)Compute an unweighted aggregate price index for the component part in 2014. (Round your answer to the nearest integer.)

I₂₀₁₄ = ??

(c)Compute a 2014 weighted aggregate price index for the component part. (Round your answer to the nearest integer.)

I₂₀₁₄ = ??

What is the interpretation of this index for the manufacturing firm? (Round your answer to the nearest integer.)

There was a (??) % increase in the price of the component part over the two-year period.

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