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 31CE
To determine
Find Fisher’s ideal index.
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Q. 28 In what respects the whole sale price index differs from
the general price index ?
Consider the price of three items for years 2017 and 2019.SUGAR(KG) CALCULATOR DEODORANT 20072019Price Quantity Price Quantity14.00 60.00 800 200 18.00 85.00 900 50025.00 300 40.00 600 3.1 The using 2015 as base year calculate:3.1.1 The Laspeyres price and quantity indices.3.1.2 The Paasche price and quantity indices.(8)(8) 3.2 Interpret the Paasche indices calculated in question 3.1.2 above.
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The following tables consists of Prices and Consumption for three types of energy
products in Australia from 2011 to 2021
Year
2011
2021
Year
2011
2021
Solar
7
4
Prices ($)
Solar
15
17
Natural Gas
26
34
Consumption (Qty)
Natural Gas
4
6
Wind
9
6
Wind
12
18
i. Using 2021 as the current year, calculate the Paasche aggregate price
index. Show your calculations.
ii. Interpret the Paasche price index.
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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- From the following data calculate price index number for 2010 with 2000 as base by Fisher's method. Commodity 2000 2010 Price Quantity Price Quantity 20 8. 40 6. 5. 15 50 10 60 40 15 50 20 20 20 25 Latr ABCDarrow_forwardThe table to the right represents the annual percentage of smartphones sold in a certain region in 2011, 2012, and 2013 (projected). a. What conclusions can you reach about the market for smartphones in 2011, 2012, and 2013? b. What differences are there in the market for smartphones in 2011, 2012, and 2013? a. Select all that apply. A. Type 6 had the smallest or close to the smallest percentage of smartphones sold in all three years. B. Type 3 had the second largest percentage of smartphones sold in all three years. C. Type 1 had the largest percentage of smartphones sold in all three years. D. Type 5 had the smallest or close to the smallest percentage of smartphones sold in all three years. E. Type 2 had the second largest percentage of smartphones sold in all three years. Туре Type 1 Type 2 Type 3 Type 4 Type 5 Type 6 2011 44% 21% 21% 10% 1% 3% 2012 69% 16% 4% 6% 3% 2% 2013 63% 17% 1% 3% 13% 3%arrow_forwardWhich of the following is not a good interpretation of a seasonal index of 1.26 for fall quarter sales? O a. Fall quarter sales are 26 perbent higher than the annual average. O b. Fall quarter sales represents 1.26 times the annual average. O c. Fall quarter sales represents an increase of 26 percent over last year's annual average. O d. Fall quarter sales average 126 percent of annual sales.arrow_forward
- Price information for selected foods for 2010 and 2018 is given in the table. Price Quantity Item 2010 2018 2010 2018 Cabbage (pound) $ 0.06 $ 0.05 2,000 1,500 Carrots (bunch) 0.10 0.12 200 200 Peas (quart) 0.20 0.18 400 500 Endive (bunch) 0.15 0.15 100 200 Compute a simple price index for each of the four items. Use 2010 as the base period. (Round your answers to 2 decimal places.)arrow_forwardSamurai Inc is a popular travel option for travelers between Japan and mainland Asia especially South Korea. However, due to the South Korea’s Discord with its neighbour and the following uncertainty regarding peace negotiation in the Korean Peninsula, the number of ground travel continues to fluctuate. Table 1 shows the number of car travel (y) per quarter between Japan and South Korea between 2013 and 2019. Table Attached Question: Calculate the Adjusted Seasonal Index for Q1, Q2, Q3, and Q4.arrow_forwardConstruct price index number from the following data by applying (Paasche's ideal Method Commodity Price(2000) Quantity(2000) Price(2001) Quantity(2001) A 2 4 12 10 4 15 12 2 18 20 A. 148.65arrow_forward
- John Kittle, an independent insurance agent, uses a five-year moving average to forecast the number of claims made in a single year for one of the large insurance companies he sells for. He has just discovered that a clerk in his employ incorrectly entered the number of claims made four years ago as 1,400 when it should have been 1,200.a. What adjustment should Mr. Kittle make in next year’s forecast to take into account the corrected value of the number of claims four years ago?b. Suppose that Mr. Kittle used simple exponential smoothing with a = .2instead of moving averages to determine his forecast. What adjustment is now required in next year’s forecast? (Note that you do not need to know the value of the forecast for next year in order to solve this problem.)arrow_forwardCalculate the Dorbish and Bowley's price index number for the following data base year. 1aking 2014 as 2014 Prices (per kg) Quantitics 2015 Items (purchased) Prices (per kg) Quantities 80 3 (purchased) Oil 100 35 2 Pulses Sugar Rice Cereals 4 25 45 2 3 50 30 30 3 54 35 35 40 3arrow_forwardMazars is an integral player in auditing, accounting, tax and advisory services in South Africa. A seasonal analysis was done on their sales for the period between 2009 and 2014 and the Median Seasonal Index's and the Adjusted Seasonal index's was calculated for each quarter as reflected below. Median seasonal Index Adjusted seasonal index Quarter 1 79.5660 79.0886 Quarter 2 85.3333 84.8213 Quarter 3 135.9855 135.1696 Quarter 4 101.5385 100.9293 Total 400.00 Each adjusted seasonal index measures the magnitude of seasonal influence on the actual values of the time series for a given period within the year. Interpret the seasonal analysis results for Quarter 1arrow_forward
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