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 43CE
To determine
Find the Fisher’s ideal index.
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4. The following table provides the average price of Regular Grade of gasoline for 4 years.
Use 2015 as the reference value, complete the table by calculating the price index for each
year. Show all your calculation in the space provided.
Date
2013
2014
2015
2016
Regular Grade Gasoline Prices
Price
$3.505
$3.358
$2.429
$2.143
Price Index
6. From the following data, Calculate Price Index Number for the current year by
Using.
(a) Passche's Method and (b) Laspeyre's Method
Base Year
Current Year
Commodity
Price
Quantity
Price
Quantity
8
50
20
60
15
6.
10
1
20
8.
10
1
1
40
3.
30
ABCDE
Q. 28 In what respects the whole sale price index differs from
the general 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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- Base year (2000) Current year (2005) Commodity Price Qиantity Price Quantiry 4.00 58500 6.00 62000 B 3.50 15630 5.50 13050 C 3.00 26230 5.00 25000 2.50 11360 4.00 10000 E 2.00 30000 3.00 37500 it is given that : E P,9, = 455795, E P,q, = 721275, EP,90 = 703555, and E Pq, = 468675, %3D Alsoarrow_forwardThe marketing manager of "ABC Tapes" wants to assess the competitiveness of the company's product in the market. Table 1 represents the prices and quantities of blank cassette tapes sold in January 2016 and January 2020. TABLE 1 2016 2020 Length of tapes Price Quantity Price Quantity 30 minutes R 4.00 32 R 5.60 40 60 minutes R 4 30 150 R 6.15 190 90 minutes R 4.60 100 R 7.40 130 Using 2016 as base and calculate for 2020 the following: Determine the Laspeyres price index: a) 149.492 Ob) 149.367 Oc) 66.949 d) 66.893arrow_forward53. In calculating a certain cost of living index number, the following weights were used : Food 15, clothing 3, rent 4, fuel and light 2, miscellaneous 1. Calculate the index for the period when the average percentage increases in prices of items in the various groups over the base period were 32, 54, 47, 78 and 58 respectively. Suppose a business executive was earning Rs. 20,500 in the base period, what should be his salary in the current period if his standard of living is to remain the same ?arrow_forward
- Q. 7 How do you construct of cost of living index number.arrow_forward24. In calculating cost of living index number, the weights used were : Food 8, Rent 2, Clothing 3,, Fuel and Light 1 and Miscellaneous 2. Calculate the index number in the case of data where the percentage increases in the prices of the various items in 2017 over prices of 2016 were 40, 75, 60, 35, and 80 respectively.arrow_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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