Evaluate the Paasche Price index for 2020 using 2010 as the base year for the above data. A. 117.7 B. 120.1 C. 138.9 D. 141.8 Question 22 Evaluate the Laspeyres Quantity index for 2020 using 2010 as the base year for the above data.
Evaluate the Paasche Price index for 2020 using 2010 as the base year for the above data. A. 117.7 B. 120.1 C. 138.9 D. 141.8 Question 22 Evaluate the Laspeyres Quantity index for 2020 using 2010 as the base year for the above data.
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.6: Rational Functions
Problem 11SC: Find the mean hourly cost when the cell phone described above is used for 240 minutes.
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Question 21
Use the attached information to answer Question 21 and Question 22.
Evaluate the Paasche Price index for 2020 using 2010 as the base year for the above data.
A. 117.7
B. 120.1
C. 138.9
D. 141.8
Question 22
Evaluate the Laspeyres Quantity index for 2020 using 2010 as the base year for the above data.
A. 117.7
B. 120.1
C. 138.9
D. 141.8
Transcribed Image Text:Use the following information to answer Question 21 and Question 22.
The prices and consumptions of basic goods in years 2010 and 2020 are given in the following table.
| 2010
2020
Quantities (kg)
Unit Price
(Rands)
Unit Price
Quantities (kg)
(Rands)
Flour
15
62
26
78
Sugar
12
15
19
22
Maize meal
14
80
15
85
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