Statistics for Business & Economics
12th Edition
ISBN: 9781285528830
Author: David R. Anderson
Publisher: Cengage Learning US
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Chapter 20, Problem 18SE
a.
To determine
Find the price relative for each product.
b.
To determine
Find the weighted aggregate price index that reflects the shipping cost change over the four-year period.
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The 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) 66.893
. 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 kg
Please help me and show me all steps .
Chapter 20 Solutions
Statistics for Business & Economics
Ch. 20.2 - The following table reports prices and usage...Ch. 20.2 - An item with a price relative of 132 cost 10.75 in...Ch. 20.2 - A large manufacturer purchases an identical...Ch. 20.2 - Prob. 4ECh. 20.2 - Under the last-in, first-out (LIFO) inventory...Ch. 20.3 - Price relatives for three items, along with...Ch. 20.3 - The Mitchell Chemical Company produces a special...Ch. 20.3 - Prob. 8ECh. 20.3 - Compute the price relatives for the RB Beverages...Ch. 20.5 - Registered nurses in 2007 made an average hourly...
Ch. 20.5 - The average hourly wage rate for construction...Ch. 20.5 - Shipments of product from manufacturer to the...Ch. 20.5 - Prob. 13ECh. 20.7 - Prob. 14ECh. 20.7 - Prob. 15ECh. 20.7 - An automobile dealer reports the 1994 and 2011...Ch. 20 - Many factors influence the retail price of...Ch. 20 - Prob. 18SECh. 20 - Prob. 19SECh. 20 - Boran Stockbrokers, Inc., selects four stocks for...Ch. 20 - Compute the price relatives for the four stocks...Ch. 20 - Prob. 22SECh. 20 - Seafood price and quantity data are reported by...Ch. 20 - Prob. 24SECh. 20 - The closing price of Apple stock, adjusted for...Ch. 20 - Prob. 26SE
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- Suppose seafood price and quantity data for the years 2000 and 2009 follow. Use 2000 as the base period. Seafood 2000Qty. (lb) 2000Price ($/lb) 2009Price ($/lb) Halibut 75,290 2.01 2.33 Lobster 83,080 3.62 3.09 Tuna 50,779 1.87 1.97 (a) Compute a price relative for each type of seafood. (Round your answers to one decimal place.) Seafood Price Relative Halibut ? Lobster ? Tuna ? (b) Compute a weighted aggregate price index for the seafood catch. (Round your answer to one decimal place.) I2009 = ?? Comment on the change in seafood prices over the nine-year period. (Enter your percentage as a positive value. Round your answer to one decimal place.) Seafood prices have (increased/decreased) by ??% over the 9-year period according to the index.arrow_forward7. Calculate the weighted price index from the following data : Quantity required Price during 2014 Rs. Units Materials required 2017 Rs. 5.0 9.5 Cement 100 lb. 500 lb. 8.0 00ar 2,000 c.ft 50 cwt. Timber c.ft. 14.2 34.0 42.0 24.0 Steel sheets cwt. Bricks per '000 20,000 12.0arrow_forwardThe following table shows the average monthly production of coal in tonnes for the year 2010-2019. Year Production (in tonnes) Year Production (in tonnes) 2010 50.0 2015 38.1 2011 36.5 2016 32.6 2012 43.0 2017 41.7 2013 44.5 2018 41.1 2014 38.9 2019 33.8 Compute the price indices from 2010 to 2019 by taking 2019 as the base year. Compare the price of 2014 and 2017. What is the percentage (%) change in the production from 2016 to 2019?arrow_forward
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