Perfect Population Projections Incorporated (PPP) has entered into a contractwith the city of Popular, Pennsylvania, to project the future population of thecity. In recent years, Popular has become a desirable place to live and work, asindicated by the below table.Year201920202021202220232024TotalPopulation50,00053,00057,00065,00070,000?TotalEmployment25,00026,50028,50032,50035,000?BasicEmployment6,2506,6257,1258,1258,7509,000*NonbasicEmployment18,75019,87521,37524,37526, 250?*Estimated from surveys.Required:The contract states that PPP must project Popular's population for the year2024 using an economic base analysis. The ratio of population to totalemployment is 2.0833.Note: Do not round intermediate calculations. Round your final answers tothe nearest whole number.Your help is needed!Total population using economic base analysisTotal employment using economic base analysisTotal Nonbasic employment using economic base analysisYear 202075,000 X36,000 X27,000 X

The expected or forecasted population for a certain future year is referred to as the projected…

Perfect Population Projections Incorporated (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.

Perfect Population Projections Incorporated (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.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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