EBK STATISTICS FOR BUSINESS & ECONOMICS
12th Edition
ISBN: 9780100460461
Author: Anderson
Publisher: YUZU
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Chapter 20.3, Problem 9E
Compute the price relatives for the R&B Beverages products in exercise 4. Use a weighted average of price relatives to show that this method provides the same index as the weighted aggregate method.
4. R&B Beverages, Inc., provides a complete line of beer, wine, and soft drink products for distribution through retail outlets in central Iowa. Unit price data for 2011 and 2014 and quantities sold in cases for 2011 follow.
Compute a weighted aggregate index for the R&B Beverage sales in 2014, with 2011 as the base period.
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Spring is a peak time for selling houses. Suppose the data below contains the selling price, number of bathrooms, square footage, and number of bedrooms of 26 homes sold in Ft. Thomas, Kentucky, in spring 2018.
Selling Price Baths Sq Ft
Selling Price
160,000
170,000
178,000
182,500
195,100
212,500
245,900
250,000
255,000
258,000
267,000
268,000
275,000
1.5 1,786
2 1,768
1 1,219
1 1,578
1.5 1,125
2 1,196
2 2,128
N W
3
2
1,280
1,596
3.5 2,374
2.5 2,439
2 1,470
2 1,688
Beds
3
3
3
2
3
2
3
3
3
4
3
4
4
295,000
325,000
325,000
328,400
331,000
344,500
365,000
385,000
395,000
399,000
430,000
430,000
454,000
Baths Sq Ft
2.5 1,860
3 2,056
3.5 2,776
2
1,408
1.5 1,972
2.5 1,736
2.5 1,990
2.5 3,640
2.5 1,928
2 2,108
2
2,462
2 2,615
3.5 3,700
Beds
3
4
4
4
3
3
4
4
4
3
4
4
4
Consider the estimated regression equation we developed that can be used to predict the selling price given the number of bathrooms, square footage, and number of bedrooms in the house. (x, denotes number of bathrooms, x₂ denotes…
Kendrick Anderson Furniture Maker, LLC creates custom tables in Atlanta. Assume that you are the product manager for the Dining Room Table segment. Your company is planning to meet with a local not-for-profit company that is presenting a proposal for the production of tables for its senior center. Monthly manufacturing costs for the Dining Room Table segment are included below. Assume that the data includes no outliers.
Month
Total
Dining Room
Manufacturing
Tables
Costs
Produced
Year 1:
June
$ 22,750
25
July
28,000
45
August
14,199
15
September
29,347
36
October
20,924
24
November
36,774
48
December
19,331
24
Year 2:
January
41,659
50
February
18,412
20
March
22,196
25
April
20,958
32
May
15,525
22
June
14,690
15
July
16,292
18
August…
Calculate range and its co-efficient from the following
statistical data:
Profits ( $ in 000's)
125, 50, 30, 20, 80, 85, 90, 160, 180, 100, 170, 185, 155, 200, 140, 145.
Chapter 20 Solutions
EBK 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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