Statistical Techniques in Business and Economics
18th Edition
ISBN: 9781260788785
Author: Lind, Douglas
Publisher: MCGRAW-HILL HIGHER EDUCATION
expand_more
expand_more
format_list_bulleted
Question
Chapter 17, Problem 44CE
To determine
To find: The value index for 2018 using 2010 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.
Please solve this question
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.)
Chapter 17 Solutions
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
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_forwardUse 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.)arrow_forward2015 2020 ITEM PRICE QUANTITY PRICE QUANTITY Cup of coffee 8.50 50 10.50 60 Toasted cheese sandwich 13.00 35 14.00 25 English muffin 9.00 120 9.50 138 The preliminary analysis of the data produced the following table: po qo p1 q1 poqo poq1 p1qo p1q1 8.50 50 10.50 60 425 510 525 630 13.00 35 14.00 25 455 325 490 350 9.00 120 9.50 138 1080 X 1140 1311 Σ W Y 2155 Using the table of analysis shown above, answer the following questions (use 2015 as the base year):arrow_forward
- Suppose that the Producer Price Index and the sales of Hoskin’s Wholesale Distributors for 2006 and 2018 are: What are Hoskin's real sales (also called deflated sales) for the 2 years? (Round your answers to the nearest whole dollar.)arrow_forwarda. Based on the graph, what was the dollar amount of the US National Debt in 2000? Be as accurate as possible. Write your answer in expanded form (for example, 100,000). b. Based on the graph, what was the percent of GDP for the US National Debt in 2000? Be as accurate as possible. c. Based on your above answers, what was the GDP in 2000? Show calculations/thought process supporting your answer.arrow_forwardThe following table gives information on the Consumer Price Index (Base = 2016-17) and the monthly salary of Miss Safaludin, an employee at Panthar Car company in Kuala Lumpur. Determine Miss Safaludin's “real” monthly salary for 2019.arrow_forward
- A price relative was computed for houses. The base period is 2005. The price relative in 2010 was 130. The interpretation of the price relative is that a. there has been a 130% increase in the price of houses from 2005 to 2010. b. there has been a 30% increase in the price of houses from 2005 to 2010. c. the price of houses in 2010 was $130 higher than the price in 2005. d. It is impossible to interpret the index.arrow_forwardAccording to the National Chicken Council , the mean retail price per pound of chicken in 2010 was $1.54. In 2018, the retail price for chicken was $2.86 per pound.What is the simple index for the price per pound of chicken, using the 2010 price as the base period (Round your answer to 2 decimal place.)arrow_forwardplease answer in text form and in proper format answer with must explanation , calculation for each part and steps clearlyarrow_forward
arrow_back_ios
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