STAT TECH IN BUSINESS & ECON AC
18th Edition
ISBN: 9781264731657
Author: Lind
Publisher: MCG
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Chapter 17, Problem 47CE
To determine
To find: 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.
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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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- 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.)arrow_forwardPlease solve this questionarrow_forwardA 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_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_forwardIn 2014, the median salary nationwide for a high school teacher was $56,310 per year. The median annual wage for all workers was $35,540.SOURCE: United States. Department of Labor. "High School Teachers." Occupational Outlook Handbook. 17 Dec. 2015. Web. 7 March 2016. Suppose a worker makes $29,000 in wages per year. Find the percent increase in salary the worker can expect if he/she trains to be a teacher and can expect to earn a salary of $40,000. Enter your response to the nearest 0.1% %arrow_forwardplease answer within 30 minutes.arrow_forward
- given a list price of $4,400 and a chain discount of 2/3, find the (round your answer to 2 decimal places.) a. trade discount and b. net price.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_forwardCreate 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_forward
- Sales last year for a department were $124,560. This year planned sales are forecast to increase by 4.2%. What are planned sales for this year?arrow_forwardComplete the chase production plan, using the following information. The only costs you need to consider here are layoff, hiring, and inventory costs. If you complete the plan correctly, your hiring, layoff, and inventory costs should match those given here. Click the icon to view the costs table. Click the icon to view the forecasted sales. Fill in the production plan table below (enter your responses as whole numbers). More Info Totals Costs Cost of plan Month March Planning values Starting inventory Starting and ending workforce Hours worked per month per worker Hours per unit Hiring cost per worker Layoff cost per worker Monthly per-unit holding cost Print Forecasted sales 1,917 Sales in to meet worker sales hours average = 253 Layoff 256 $256,000 Done Hiring Inventory 256 18,000 $18,000 $1,024,000 $1,298,000 1,500 209 315 35 $4,000 $1,000 $1 Actual workers 209 Actual production Layoffs Hiring More Info Ending inventory 1,500 Month March April May June July August September October…arrow_forwardPlease answer the 2nd, 3rd, & 4th questionarrow_forward
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