Question 3 The following information was recorded in a toy store: Year 2016 Year 2017 Year 2018 Price Quantity Price Quantity Price Quantity Slime 6. 50 9. 60 10 56 Sticky tact 2 100 2 105 2 120 Stinky egg 4 60 4 50 6. 60 Teddy Bear 10 30 11 26 12 24 Tortoise 8 40 11 39 12 36 (a) By using the above data, compute the Laspeyres Price Index for year 2018 by using year 2016 as base year. (b) Interpret your answer in part (a)). (c) By using the above data, compute the Paasche Price Index for year 2018 by using year 2016 as base year.
Question 3 The following information was recorded in a toy store: Year 2016 Year 2017 Year 2018 Price Quantity Price Quantity Price Quantity Slime 6. 50 9. 60 10 56 Sticky tact 2 100 2 105 2 120 Stinky egg 4 60 4 50 6. 60 Teddy Bear 10 30 11 26 12 24 Tortoise 8 40 11 39 12 36 (a) By using the above data, compute the Laspeyres Price Index for year 2018 by using year 2016 as base year. (b) Interpret your answer in part (a)). (c) By using the above data, compute the Paasche Price Index for year 2018 by using year 2016 as base year.
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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please urgently !!! Correct answer to 4 decimal places and report the measurement unit when applicable.
Transcribed Image Text:Elementary Statistics
Question 3
The following information was recorded in a toy store:
Year 2016
Year 2017
Year 2018
Price
Quantity
Price
Quantity
Price
Quantity
Slime
50
9.
60
10
56
Sticky tact
100
2
105
2
120
Stinky egg
4
60
4
50
6.
60
Teddy Bear
10
30
11
26
12
24
Tortoise
8
40
11
39
12
36
(a) By using the above data, compute the Laspeyres Price Index for year 2018 by using year 2016 as base
year.
(? - :-)
(b) Interpret your answer in part (a)).
*s)
(c) By using the above data, compute the Paasche Price Index for year 2018 by using year 2016 as base year.
.. 3)
(d) Which item has experienced the greatest inflation rate from year 2017 to year 2018? (Just state your
answer, no calculation is needed in part (d)).
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