that is a blend of three chemical ingredients. The beginning-year cost per pound, the ending-year cost per pound, and the blend proportions follow. (Round your answers to the nearest integer.) Cost per Pound ($) Ingredient
that is a blend of three chemical ingredients. The beginning-year cost per pound, the ending-year cost per pound, and the blend proportions follow. (Round your answers to the nearest integer.) Cost per Pound ($) Ingredient
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 chemical company produces a special industrial chemical that is a blend of three chemical ingredients. The beginning-year cost per pound, the ending-year cost per pound, and the blend proportions follow. (Round your answers to the nearest integer.)
| Cost per Pound ($) | |||
|---|---|---|---|
| Ingredient | Beginning | Ending | Quantity (pounds) per 100 Pounds of Product |
| A | 2.50 | 2.95 | 25 |
| B | 8.75 | 9.90 | 10 |
| C | 0.99 | 0.95 | 60 |
(a)
Compute the price relatives for the three ingredients.
| Item | Price Relative |
|---|---|
| A | ? |
| B | 113.14 |
| C | ? |
(b)
Compute a weighted average of the price relatives to develop a one-year cost index for raw materials used in the product.
I = ??
What is your interpretation of this index value?
Cost of raw materials is up (??) % for the chemical.
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