Loose Leaf for Statistical Techniques in Business and Economics
17th Edition
ISBN: 9781260152647
Author: Douglas A. Lind
Publisher: McGraw-Hill Education
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Chapter 17, Problem 30CE
To determine
Find Paasches’ index for 2016 using 2000 as the base period.
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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.
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.)
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Chapter 17 Solutions
Loose Leaf for Statistical Techniques in Business and Economics
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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- House of coffees imports and distributes coffee to over 300 retailers countrywide. Data for 2007 and 2010 is shown in the table below. Calculate the Laspeyres Quantity Index using 2001 as the base year (rounded off to two deccimals)arrow_forwarda) The cost of an 'average' television has fallen over recent years. 2017 2018 2019 2020 £950 £820 £740 £630 Convert the costs into an index using 2017 as the base year.arrow_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_forward
- 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.)arrow_forwardThe Paasche method uses the amounts consumed in the base period, qo, as weights to determine a price index. True or False True Falsearrow_forwardThe Trade Union Association of Orlando, Florida, maintains indexes on the hourly wages for a number of the trades. Unfortunately, the indexes do not all have the same base periods. Listed is information on plumbers and electricians. Shift the base periods to 2010 and compare the hourly wage increases for the period from 2010 to 2018. (Round your answers to 1 decimal place.) Year Plumbers (2005 = 100) Electricians (2008 = 100) 2010 122.7 131.6 2018 151.0 158.0 Plumber= Electrician= Plumbers' wages have increased percent, whereas electrician has increased Percent.arrow_forward
- Price information for selected foods for 2010 and 2018 is given in the table. Determine a value index for 2018 using 2010 as the base period. (Round your answer to 2 decimal places.)arrow_forwardCalculate MSE for the 4 periods for which the actual and forecasted number of customers given in the table below: Period Actual Number of Customers Forecasted Number of Customers Error 1 1,975 2,000 2 2,050 2,025 3 1,925 1,975 4 2,075 2,025 0 390.63 37.5 6,250 1,562.5arrow_forwardNonearrow_forward
- From the data given below, construct the index number for the year 2013 on the base Commodities Unit Price (in $ ) 2012 2013 quintal quintal quintal litre Wheat 200 250 Rice 300 400 Pulses 400 500 Milk 2 Clothing metre 4 5arrow_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_forwardCalculate the index number by the application of Laspeyre's formula , Paasche's and Fishers Ideal Index number. Commodity Units consumed Price per unit 2017 2018 2017 2018 A 20 16 1.2 35 38 2.1 2.4 10 3 4.1 45 0.8 1.2 50arrow_forward
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