STAT TECH IN BUSINESS & ECON AC
18th Edition
ISBN: 9781264731657
Author: Lind
Publisher: MCG
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Question
Chapter 17, Problem 41CE
To determine
To find: The Laspeyres’ price index for 2018 using 2010 as the base period.
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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.
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 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
- 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_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
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