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ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Study Question 5-5
Perfect Population Projections Inc. (PPP) has entered into a contract with the city of Popular, Pennsylvania, to project the future
population of the city. In recent years, Popular has become a desirable place to live and work, as indicated by the below table.
Total
Total
Basic
Year Population Employment Employment
2015
2016
2017
2018
2019
2020
50,000
53,000
57,000
65,000
70,000
25,000
26,500
28,500
32,500
35,000
?
6,250
6,625
7,125
8,125
8,750
9,000*
Nonbasic
Employment
18,750
19,875
21,375
24,375
26,250
?
*Estimated from surveys.
Required:
The contract states that PPP must project Popular's population for the year 2020 using an economic base analysis. The ratio of
population to total employment is 2.0833. (Do not round intermediate calculations. Round your final answers to the nearest whole
number.)
Your help is needed!
Total population using economic base analysis
Total employment using economic base analysis
Total Nonbasic employment using economic base analysis
Year 2020
Transcribed Image Text:Study Question 5-5 Perfect Population Projections Inc. (PPP) has entered into a contract with the city of Popular, Pennsylvania, to project the future population of the city. In recent years, Popular has become a desirable place to live and work, as indicated by the below table. Total Total Basic Year Population Employment Employment 2015 2016 2017 2018 2019 2020 50,000 53,000 57,000 65,000 70,000 25,000 26,500 28,500 32,500 35,000 ? 6,250 6,625 7,125 8,125 8,750 9,000* Nonbasic Employment 18,750 19,875 21,375 24,375 26,250 ? *Estimated from surveys. Required: The contract states that PPP must project Popular's population for the year 2020 using an economic base analysis. The ratio of population to total employment is 2.0833. (Do not round intermediate calculations. Round your final answers to the nearest whole number.) Your help is needed! Total population using economic base analysis Total employment using economic base analysis Total Nonbasic employment using economic base analysis Year 2020
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