Statistics for Business & Economics
12th Edition
ISBN: 9781285528830
Author: David R. Anderson
Publisher: Cengage Learning US
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Chapter 20.5, Problem 12E
Shipments of product from manufacturer to the retailer are tracked by the U.S. Census Bureau. The value of shipments for computer and electronic products in September 2009, 2010, and 2011 are shown in the table below, along with the CPI and PPI for each of these months.
| Manufacturer Shipments ($ billions) | CPI | PPI | |
| 2009 | $29.1 | 216.0 | 173.4 |
| 2010 | $33.3 | 218.4 | 180.2 |
| 2011 | $32.9 | 226.9 | 192.5 |
- a. Use the CPI to deflate the value of the shipped computer and electronics products.
- b. Use the PPI to deflate the value of the shipped computer and electronics products.
- c. Which index, the CPI or PPI, do you feel is more appropriate for deflating these shipment values? Why?
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Students have asked these similar questions
Provide an appropriate chart for the following data
Using the following time series data of U.S. new car sales ($ millions), respond to the following items. (The data is sourced from
https://www.census.gov/retail/index.html#mrts. Find “Monthly Retail Trade Report," then select "Time Series/Trend Charts" to find the
data for U.S. new car sales.).
$ Sales
(Millions)
$ 486,565
Year
2009
549,473
608,790
672,550
735,374
785,142
842,120
877,743
911,157
943,538
2010
2011
2012
2013
2014
2015
2016
2017
2018
E Click here for the Excel Data File
b. Test for autocorrelation using the 0.05 significance level. (Negative amounts should be indicated by a minus sign. Round your
answers to 2 decimal places.)
Lagged
Residuals
Squared Difference
Squared Residuals
Year
Sales
Predicted
Residuals
2009
$
486,565
508,123.70
(21,558.70)
0.00
0.00
464,758,328.46
(10,455.50)
(2,943.26)
2010
549,473
559,928.50
2011
608,790
611,733.30
2012
672,550
663,538.00
9,011.96
2013
735,374
715,342.80
20,031.19
2014
785.142
767,147.60
17,994.41
2015
842.120
818,952.40…
Using the following time series data of U.S. new car sales ($ millions), respond to the following items. (The data is sourced from https://www.census.gov/retail/index.html#mrts. Find “Monthly Retail Trade Report,” then select “Time Series/Trend Charts” to find the data for U.S. new car sales.).
Year
$ Sales (Millions)
2009
486,565
2010
549,473
2011
608,788
2012
672,550
2013
735,374
2014
785,142
2015
842,122
2016
877,743
2017
911,157
2018
943,538
b. Test for autocorrelation using the 0.05 significance level. (Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places.)
Year
$ Sales (Millions)
Predicted
Residuals
Lagged Residuals
Squared Difference
Squared Residuals
2009
486,565
2010
549,473
2011
608,788
2012
672,550
2013
735,374
2014
785,142
2015
842,122
2016
877,743
2017
911,157
2018
943,538…
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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