Loose Leaf for Statistical Techniques in Business and Economics
17th Edition
ISBN: 9781260152647
Author: Douglas A. Lind
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Videos
Question
Chapter 17, Problem 32CE
To determine
Find the value index for 2016 using 2000 as the base period.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
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.)
Use the following table of index numbers based on the price of a pound of coffee. The index numbers use 2011 as the base year. If you spent $4.75 for a pound of coffee in 2013,
what would the price have been in 2007?
Year 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Coffee index 73.2 || 76.9 | 80.8 | 86.4 91.6 97.1 100.0 105.0 108.1|111.4 118.1
$ per pound
(Round to the nearest cent as needed.)
C
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)
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
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- the following table provides the average price of regular grade gasoline for 4 years. Use 2015 as the reference value, complete the table by calculating the price index for each year. Show all your calculationarrow_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_forwardIf the Canadian dollar drops in value from.7589 to.7496, by what percentage does the Canadian dollar drop in value?arrow_forward
- Create a line chart for the closing price for all years and a stock chart for the high/low/close prices for 2011 through 2012 in the accompanying s&p 500 data. Then choose the correct sock chart for the high/low/close prices for 2011 through 2012arrow_forwardUse the following price information for selected items for 2010 and 2018. Production figures for those two periods are also given. Price Quantity Item 2010 2018 2010 2018 Aluminum (cents per pound) $ 0.82 $ 0.86 1,000 1,200 Natural gas $ per million BLA 4.37 2.99 5,000 4,000 Petroleum (barrel) 71.21 58.15 60,000 60,000 Platinum (troy ounce) 1,743.60 1,292.53 500 600arrow_forwardUse the following price information for selected items for 2010 and 2018. Production figures for those two periods are also given. Price Quantity Item 2010 2018 2010 2018 Aluminum (cents per pound) $ 0.82 $ 0.86 1,000 1,200 Natural gas $ per million BLA 4.37 2.99 5,000 4,000 Petroleum (barrel) 71.21 58.15 60,000 60,000 Platinum (troy ounce) 1,743.60 1,292.53 500 600 Determine Fisher's ideal index for 2018 using 2010 as the base period. (Round your answer to 2 decimal places.)arrow_forward
- please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearlyarrow_forwardA taosschools.instructure.com uiz: QZ: 11/8/2021 - Progress Check Use the data from the table below for the population of Detroit to answer the following According to official data of www.census.org 2 population of Detroit, MI, is decreasing. Use the data from the table below for the population of Detroit to answer the following questions. Year Population of Detroit, in thousand people 1950 1,850 1960 1,670 1970 1,514 1980 1,203 1990 1,028 Find the predicted value for the population of Detroit in the year 2000 using the regression line. If the known population of Detroit in the year 2000 is about 951 thousand of people, what can you say about your predicted value? Why is it risky to use the least squares line to make the prediction for the next year? Edit View Insert Format Tools Table 12pt v Paragraph B MacBook Air 吕0 F3 F6 F7 F8 F9 F4 F5 2$ % & * 4 7 8 E T Y U #3arrow_forward2. 0, 7. 3. 4. 02 5. 41arrow_forward
- what is the median?arrow_forwardConstruct the price index number for the year 1997, from the following information taking 1996 as base year Commodities Price in 1996 ($) Price in 1997 ($) Rice 130 115 wheat 80 65 Sugar 75 70 Ragi 95 90 Oil 105 105 Dal 35 20arrow_forwardDetermine the time required to perform the task described below if an allowance of 10% is considered A¡BoG,M3X13910AO O a 27.8 seconds O b. 59.86 second O c. 51.8 seconds O d. 57.02 secondsarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Time Series Analysis Theory & Uni-variate Forecasting Techniques; Author: Analytics University;https://www.youtube.com/watch?v=_X5q9FYLGxM;License: Standard YouTube License, CC-BY
Operations management 101: Time-series, forecasting introduction; Author: Brandoz Foltz;https://www.youtube.com/watch?v=EaqZP36ool8;License: Standard YouTube License, CC-BY