STAT TECH IN BUSINESS & ECON AC
18th Edition
ISBN: 9781264731657
Author: Lind
Publisher: MCG
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Question
Chapter 17, Problem 43CE
To determine
To find: The Fisher’s ideal index.
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Check out a sample textbook solutionStudents have asked these similar questions
Q. 8. Construct a price index number from the following figures
related to the prices and quantities of certain commodities in 1990 taking
1987 as base.
Соmmodity:
I
II
III
IV
V
32
46
49
57
60
Price in ( $ ) 1987
Price in ( $ ) 1990
Quantity consumed:
47
57
62
70
82
18
12
5
3
Q.3
Explain the following weighted index numbers.
(a) Laspeyre's Price Index Number
(b) Passche's Price Index Number
am. 105.
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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- 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.arrow_forwardIn calculating cost of living index number, the weights used were : Food 8 18, Rent 2, Clothing 32, 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_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_forward
- 0. In the construction of a certain cost of living Index Number the following group index numbers were found. Group Index Number Number Food 352 48 Fuel and Lighting Clothing 200 10 230 8. House Rent 160 12 Miscellaneous 190 15 Given that : EW = 93, E IW = 25506. The cost of living index using weighted A.M is : (A) 274.26 (B) 284.26 (C) 264.26 (D) 294.26.arrow_forward(b) Estimate the standard errors of the slope and intercept. Round your answer to three decimal places (e.g. 98.765) se B, Round your answer to two decimal places (e.g. 98.76) se(bo ) = I (c) Test the hypothesis Ho: B1 = 10 versus H1:ß1 + 10using a = 0.01. v Họ and conclude the slope 10 at a = 0.01. (d) Test the hypothesis Ho: Bo = 0 versus H1: Bo # 0 using a = 0.01. Họ and conclude that the intercept v be included in the model.arrow_forwardThe following weights were used for the calculation of a certain cost of living index numbers: Food 20, clothing 8, rent 9, fuel and light 7, miscellaneous 6. If the average percentage increase in prices of commodities in the various groups over the base period were 42, 64, 57, 88 and 68 respectively, calculate the index for the period. Suppose Mr. X was earning $. 12,000 in the base period, what should be his salary in the current period so that his living standard will remain same as that of the base period?arrow_forward
- Q. 7 How do you construct of cost of living index number.arrow_forwardShowing by using excel format, please solve the following:arrow_forwardGiven the following information, The average number of passengers waiting to be screened is 6.785, the average amount of time spent is line waiting is .147 minutes, and average amount of time spent in the screening system is .166 Please answer the 2 following questions: What is percent of the time does the typical TSA agent spend actively screening passengers? Throughout the day, passenger arrival rates vary with the greatest number of passengers arriving about 45 minutes before a flight is expected to depart. If during this period, approximately 3 passengers arrive every minute (Poisson distributed), what is the minimum number of lines that should be open to accommodate the additional passenger traffic if each line has only one TSA agent assigned to it?arrow_forward
- (e) Test the hypothesis Ho : B1 = 10 versus H1 :ß, # 10 using a = 0.01. Ho and conclude the slope v 10 at a = 0.01. (d) Test the hypothesis Ho : Bo = 0 versus H1 : Bo + 0 using a = 0.01. Ho and conclude that the intercept be included in the model.arrow_forwardShort answer neededarrow_forward. Prepare Index Numbers of prices for three years with average price as the Base from the data given below : Years Rate per Rupee Commodities А B 1990 4 kgs. 2 kgs 1 kgarrow_forward
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