STAT TECH IN BUSINESS & ECON AC
18th Edition
ISBN: 9781264731657
Author: Lind
Publisher: MCG
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Question
Chapter 17, Problem 10E
To determine
To find: The value index of goods produced for April
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Use the following price information for selected items for 2010 and 2018. Production figures for those two periods are also given.
Price
Quantity
Item
2018
2018
2010
2018
Aluminum (cents per pound)
0.63
0.67
1,005
1,362
Natural gas (1,000 cu. ft.)
4.18
2.80
4,755
5,834
Petroleum (barrel)
71.02
57.96
71,619
74,074
Platinum (troy ounce)
1,743.41
1,292.34
647
537
Determine a value index for 2018 using 2010 as the base period. (Round your answer to 2 decimal places.)
Suppose that the Producer Price Index and the sales of Hoskin’s Wholesale Distributors for 2006 and 2018 are:
What are Hoskin's real sales (also called deflated sales) for the 2 years? (Round your answers to the nearest whole dollar.)
Use the following price information for selected items for 2010 and 2018. Production figures for those two periods are also given.
Compute a simple price index for each of the four items. Use 2010 as the base period. (Round your answers to 1 decimal place.)
Chapter 17 Solutions
STAT TECH IN BUSINESS & ECON AC
Ch. 17 - Prob. 1.1SRCh. 17 - Prob. 1.2SRCh. 17 - Prob. 1ECh. 17 - Prob. 2ECh. 17 - Prob. 3ECh. 17 - Prob. 4ECh. 17 - Prob. 2SRCh. 17 - Prob. 5ECh. 17 - Prob. 6ECh. 17 - Prob. 7E
Ch. 17 - Prob. 8ECh. 17 - Prob. 3SRCh. 17 - Prob. 9ECh. 17 - Prob. 10ECh. 17 - Prob. 4SRCh. 17 - Prob. 11ECh. 17 - Prob. 5SRCh. 17 - Prob. 6SRCh. 17 - Prob. 7SRCh. 17 - Prob. 13ECh. 17 - Prob. 14ECh. 17 - Prob. 15ECh. 17 - Prob. 16ECh. 17 - Prob. 17CECh. 17 - Prob. 18CECh. 17 - Prob. 19CECh. 17 - Prob. 20CECh. 17 - Prob. 21CECh. 17 - Prob. 22CECh. 17 - Prob. 23CECh. 17 - Prob. 24CECh. 17 - Prob. 25CECh. 17 - Prob. 26CECh. 17 - Prob. 27CECh. 17 - Prob. 28CECh. 17 - Prob. 29CECh. 17 - Prob. 30CECh. 17 - Prob. 31CECh. 17 - Prob. 32CECh. 17 - Prob. 33CECh. 17 - Prob. 34CECh. 17 - Prob. 35CECh. 17 - Prob. 36CECh. 17 - Prob. 37CECh. 17 - Prob. 38CECh. 17 - Prob. 39CECh. 17 - Prob. 40CECh. 17 - Prob. 41CECh. 17 - Prob. 42CECh. 17 - Prob. 43CECh. 17 - Prob. 44CECh. 17 - Prob. 45CECh. 17 - Prob. 46CECh. 17 - Prob. 47CECh. 17 - Prob. 48CECh. 17 - Prob. 49CECh. 17 - Prob. 50CECh. 17 - Prob. 51CECh. 17 - Prob. 52CECh. 17 - Prob. 53CECh. 17 - Prob. 54CECh. 17 - Prob. 55CE
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Similar questions
- Goshen Inc.'s monthly net income for 2019 were as follow, what is the average net income? January: $158,414.00 February: $86,512.00 March: $176,495.00 April: $174,559.00 May: $138,769.00 June: $102,250.00 July: $154,165.00 August: $92,388.00 September: $127,662.00 October: $102,680.00 November: $81,187.00 December: $89,692.00 a. $95,308.00 Ob. $1,484,773.00 O c. $115,171.00 O d. $123,731.08 O Type here to search 24arrow_forwardCalculate Price Index Number for 2016 from the following data by simple aggregate method, taking 2016 as base year. Price per kg Commodities 2015 2016 Apple Orange Pomegranate 100 140 30 40 120 130 Guava 40 50arrow_forwardPlease solve this questionarrow_forward
- Use the average annual consumer price index table to convert the 1978 minimum wage from actual dollars to 1996 dollars. Is the result consistent with the entry in the accompanying minimum wage table? Click the icon to view the table of federal minimum wages. The 1978 minimum wage in 1996 dollars is $. (Round to the nearest cent as needed.) Federal Minimum Wages Year 1938 1939 1945 1950 1990 1956 1961 1967 1968 pe 1974 1976 1978 1979 1981 1990 1991 1996 1997 2007 2008 2009 Actual Dollars 1996 Dollars $2.78 $3.39 $3.49 $0.25 $0.30 $0.40 $0.75 90.19 $1.00 $1.25 $1.40 91.00 $1.60 $2.00 22:00 $2.30 $2.50 $2.65 22.0 $2.90 222 $3.35 $3.50 $4.25 $4.75 $5.15 $5.85 $6.55 $7.25 $4.88 67.90 $5.77 $6.41 20.70 $6.58 $7.21 66.27 $6.37 20:37 $6.34 20:20 $6.38 20:30 $6.27 90:20 $5.78 $4.56 $4.90 $4.75 $5.03 $4.42 $4.77 $5.12 - X Average Annual Consumer Price Index (CPI) (1982-1984 = 100) Year CPI Year CPI Year CPI 1976 56.9 1989 124.0 2001 177.1 1977 60.6 1990 130.7 2002 179.9 1978 65.2 1991 136.2 2003…arrow_forwardput it in decimal formarrow_forwardUse the following price information for selected foods for 2000 and 2013 given in the following table in the image. a. Compute a simple price index for each of the four items. Use 2000 as the base period. b. Compute a simple aggregate price index. Use 2000 as the base period. c.Compute Laspeyres’ price index for 2013 using 2000 as the base period.arrow_forward
- Below is information on food items for the years 2000 and 2009.a. Compute a simple price index for each of the four items. Use 2000 as the base period.b. Compute a simple aggregate price index. Use 2000 as the base period.c. Compute weighted aggregate index number. Use 2000 as the base period.arrow_forwardJohnson Outdoors Inc. had the following quarterly net incomes during its 2014 fiscal year. (Source: Johnsonoutdoors.com) Quarter of Fiscal 2014 Net Income (in millions) First $7.4 Second $4.7 Third -$0.8 Fourth -$2.2 What was the total net income for fiscal year 2014?arrow_forward
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