A chemical company produces a special industrial chemical that is a blend of three chemical ingredients. The beginning-year cost per pound, the ending-year cost per pound, and the blend proportions follow (Round your answers to the nearest integer.) Cost per Pound ($) Ingredient Beginning Ending Quantity (pounds) per 100 Pounds of Product A 2.50 2.95 25 B 8.75 9.90 15 C 0.99 0.90 50 (a) Compute the price relatives for the three ingredients. Item Price Relative A 118 B 113 C 91 (b) Compute a weighted average of the price relatives to develop a one-year cost index for raw materials used in the product. I-99 X What is your interpretation of this index value? Cost of raw materials is up 1 X% for the chemical. Need Help? Read It Watch It Submit Answer Type here to search D L₁ 72°F 8:53 PM 4/26/2024 3 6 7 8
A chemical company produces a special industrial chemical that is a blend of three chemical ingredients. The beginning-year cost per pound, the ending-year cost per pound, and the blend proportions follow (Round your answers to the nearest integer.) Cost per Pound ($) Ingredient Beginning Ending Quantity (pounds) per 100 Pounds of Product A 2.50 2.95 25 B 8.75 9.90 15 C 0.99 0.90 50 (a) Compute the price relatives for the three ingredients. Item Price Relative A 118 B 113 C 91 (b) Compute a weighted average of the price relatives to develop a one-year cost index for raw materials used in the product. I-99 X What is your interpretation of this index value? Cost of raw materials is up 1 X% for the chemical. Need Help? Read It Watch It Submit Answer Type here to search D L₁ 72°F 8:53 PM 4/26/2024 3 6 7 8
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 26EQ
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