Example 20.15) Calculate (a) a weighted average of price relatives and (b) a weighted aggregate priceindex, both for year 2 (based on year 1), for the following commodities:Price (Rs)CommodityWeightYear 1Year 2A5215210B10250275C41,1001,300D8950950E13170200

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Answered: Example 20.15) Calculate (a) a weighted…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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The Consumer Price Index provides a means of determining the purchasing power of the U.S. dollar from one year to the next. To use the Consumer Price Index to predict a price in a particular year, we can set up a proportion and compare it with a known price in another year as follows:(price in year A)/(index in year A)=(price in year B)/(index in year B)In 1986 the Consumer Price Index was 109.6 and in 2010 it was 218.1. Find the amount that would be charged in 2010 for the use of the same amount of electricity that cost $110 in 1986. Give your answer to the nearest dollar.
(b) Table 1 shows consumables usage data from a leading manufacturer. Forecast the demand for August, September and October using: i) a three-month moving average ii) a four-month weighted moving average using 50 percent of the actual usage for the most recent month, 20 percent of two months ago, 15 percent of three months ago and 15 percent of four months ago. Using an example, explain what are the benefits of using the weighted moving average method of forecasting instead? Month February 2023 March 2023 April 2023 May 2023 June 2023 July 2023 Consumables Used 884 892 972 990 956 880
2. The following data relate to advertising expenditure (in lakh of rupees) and their corresponding sales (in crores of rupces) : Advertising Expenditure 10 12 15 23 20 Sale 14 17 23 25 21 Estimate (i) the sales corresponding to advertising expenditure of. and (ii) the advertising expenditure for a sales target of . 30 lakhs .35 crores.
Construct index number of price from the following data byapplying: Marshall-Edgeworth’s methodand comment on the results. Commodity Price Quantty Price QuanttyA 2 8 4 6B 5 10 6 5C 4 14 5 10D 2 19 2 13
10-9. Calculate the weighted price index from the following data: Unit Quantity required Materials required Price (Rs.) 1963 1973 100 lb. 500 lb. Cement Timber Steel sheets 5-0 8-0 cft. 2,000 c.ft. 50 cwt. 9.5 14-2 cwt, 34-0 42-20 Bricks per '000 20,000 12-0 24-0
Construct index number of price from the following data byapplying: Bowley’s method 2016 2016 2017 2017 Commodity Price Quantty Price QuanttyA 2 8 4 6B 5 10 6 5C 4 14 5 10D 2 19 2 13
24. The consumer price index for 2006 on the basis of 2005 from the following data is : Соommodities Quantities consumed in 2005 Prices in 2005 Prices in 2006 A 6. 5.75 6.00 B 6. 5.00 8.00 C 1 6.00 9.00 D 6. 8.00 10.00 E 4 2.00 1.50 F 1 20.00 15.00 (A) 118.77 (B) 128.77 (С) 108.77 (D) 138.77.
Example 5 The highlights of the Railway budget for 1983-84 are as follows. The actual gross traffic receipts for 1981-82 was Rs. 3,538.24 crores. The Budget Estimates for 1982-83 in regard to Gross traffic receipts was Rs. 4,171.8 crores and the revised Budget Estimate for 1982-83 for the above item is Rs. 4,375.79 crores respectively. Whereas the budget estimates for 1983-84 for Gross traffic receipts is Rs. 5,343.63 crores, the actual total working expenses and the net railway revenue for 1981-82 were Rs. 3,182.05 crores and Rs. 403.1 crores respectively. The Budget Estimates and Revised Budget Estimates for 1982-83 in respect of total working expenses are Rs. 3,700.90 crores and Rs. 3,892.28 crores respectively. Whereas the corresponding estimates for 1982-83 in respect of net-railway revenue are Rs. 510.91 crores and Rs. 533.4 crores respectively, the estimated budget on total working expenses and net railway revenue for 1983-84 exceed the actuals for 1981-82 by Rs. 1,338.72 crores…
1. (10 ) According to the PayScale data from 2021, the average starting salaries by college major for bachelor's degree are as follows: $70,600 for mechanical engineering, $56,700 for economics, $43,500 for chemistry, and $47,000 for philosophy. In order to estimate the true difference in the average starting salaries by college major in 2022, 60 graduates with these four majors from the class of 2022 were contacted and questioned about their starting salaries. Propose a regression model with dummy variables that could be used to investigate if starting salaries are different by college major and interpret all the coefficients in the model. 0.000
Construct index number of price from the following data byapplying: a ) Laspeyre’s method Commodity Price Quantty Price QuanttyA 2 8 4 6B 5 10 6 5C 4 14 5 10D 2 19 2 13
2. The average prices and quantities of fruits in a certain fixed market for the years 2015 and 2017 were as in the table below. Fruit 2016 2017 Price/kg (NAD) Quantity (tons) Price/kg (NAD) Quantity (tons) Orange 18 500 16 600 Banana 15 273 20 317 Strawberry 22 382 27 321 Mango 12 431 18 284 (a) Calculate price index for orange for 2017 with 2016 as base year and interpret it. (b) Use Paasche's approach to calculate composite price index for these fruits for 2017 with 2016 as base year and interpret it. (c) Use Laspeyres' approach to calculate composite quantity index for these fruits for 2017 with 2016 as base year and interpret it.
Example 20.16 Calculate price index number for the year 1996 with 1986 as the base year from the following data using: (i) Laspeyres index, (ii) Paasche index and (iii) Fisher's index 1986 1996 Commodity Unit Price (Rs) Value (Rs) Qty. Consumed Value (Rs) A 10 1,500 160 1,760 kg kg B 12 1,080 100 1,300 Metre 15 900 60 960 Packets 9 450 40 480 CD с D

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Example 20.15) Calculate (a) a weighted average of price relatives and (b) a weighted aggregate price index, both for year 2 (based on year 1), for the following commodities: Price (Rs) Commodity Weight Year 1 Year 2 215 210 250 275 1,100 1,300 950 950 170 200 ABCDE 50483 10 13