To find: The index for each of the countries by using country U as the base period and to find what percent of metal China produces more than that produced by country U.
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Answer to Problem 1.1SR
The table that shows the simple index of all countries is given below:
Country | Amount (millions of tons) | Index |
China | 831.7 | |
Japan | 104.7 | 129.2592593 |
US | 81 | 100 |
India | 101.5 | 125.308642 |
Russia | 71.5 | 88.27160494 |
China produces approximately
Explanation of Solution
Given information:
Country | Amount (millions of tons) |
China | 831.7 |
Japan | 104.7 |
US | 81 |
India | 101.5 |
Russia | 71.5 |
Formula used:
The simple index for the period
with the base period 0 is calculated as:
Where
Calculation:
The base is country U and the amount for country U is 81 million tons, that is,
The table that shows the simple index of all periods is given below:
Country | Amount (millions of tons) | Index |
China | 831.7 | |
Japan | 104.7 | 129.2592593 |
US | 81 | 100 |
India | 101.5 | 125.308642 |
Russia | 71.5 | 88.27160494 |
The index for country C is 1026.790123. Hence, country C produces approximately
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Chapter 17 Solutions
STATISTICAL TECH IN BUSN LLW/CONNECT
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