The following table reports prices and usage quantities for two items in 2009 and 2011. (Round your answers to the nearest integer.) Quantity Unit Price ($) Item 2009 2011 2009 2011 A 1,400 1,700 8.50 6.95 650.00 1,400.00 B 2 (a) Compute price relatives for each item in 2011 using 2009 as the base period. Item Price Relative A B (b) Compute an unweighted aggregate price index for the two items in 2011 using 2009 as the base period. I2011 (c) Compute a weighted aggregate price index for the two items using the Laspeyres method using 2009 as the base period. I2011 (d) Compute a weighted aggregate price index for the two items using the Paasche method using 2009 as the base period. I2011

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The following table reports prices and usage quantities for two items in 2009 and 2011. (Round your answers to the nearest integer.)
Quantity
Unit Price ($)
Item
2009
2011
2009
2011
A
1,400
1,700
8.50
6.95
B
2
650.00
1,400.00
(a) Compute price relatives for each item in 2011 using 2009 as the base period.
Item
Price Relative
A
B
(b) Compute an unweighted aggregate price index for the two items in 2011 using 2009 as the base period.
I2011
(c) Compute a weighted aggregate price index for the two items using the Laspeyres method using 2009 as the base period.
I 2011
(d) Compute a weighted aggregate price index for the two items using the Paasche method using 2009 as the base period.
I2011
Transcribed Image Text:The following table reports prices and usage quantities for two items in 2009 and 2011. (Round your answers to the nearest integer.) Quantity Unit Price ($) Item 2009 2011 2009 2011 A 1,400 1,700 8.50 6.95 B 2 650.00 1,400.00 (a) Compute price relatives for each item in 2011 using 2009 as the base period. Item Price Relative A B (b) Compute an unweighted aggregate price index for the two items in 2011 using 2009 as the base period. I2011 (c) Compute a weighted aggregate price index for the two items using the Laspeyres method using 2009 as the base period. I 2011 (d) Compute a weighted aggregate price index for the two items using the Paasche method using 2009 as the base period. I2011
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