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 5E
a.
To determine
Develop a simple price index using August 2000 as the base period.
b.
To determine
Develop a simple aggregate price index using 2000 as the base period.
c.
To determine
Find the Laspeyres’ price index using 2000 as the base period.
d.
To determine
Find the Paasche’s index using 2000 as the base period.
e.
To determine
Find the Fisher’s ideal index.
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Complete the following table by finding the net price factor, single equivalent discount, trade discount (in dollars), and net price (in dollars). Round the net price factor and single
equivalent discount to five decimal places, and the trade discount and net price to the nearest cent, when necessary.
List Price
$430.70
Trade
Discount
Rate
31/15/5
Net Price
Factor
Single
Equivalent
Discount
tA
Trade
Discount
tA
Net Price
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.
Use the following price information for selected items for 2010 and 2018. Production figures for those two periods are also given.
Price
Quantity
Item
2010
2018
2010
2018
Aluminum (cents per pound)
$
0.82
$
0.86
1,000
1,200
Natural gas $ per million BLA
4.37
2.99
5,000
4,000
Petroleum (barrel)
71.21
58.15
60,000
60,000
Platinum (troy ounce)
1,743.60
1,292.53
500
600
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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