From the following data construct a price index number of the group of four commodities by using the appropriate formula : Commodity Base Year Current Year . Price per unit Expenditure Price per unit Expenditure A 40 75 4 16 40 C 1 10 2 24 25 10 60
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- The following table gives the prices of some food items in the base year and current year and the quantities sold in the base year and current year. Commodity 2000 2005 Price (K) Quantity Price (K) Quantity A B C 15 20 4 15 5 10 22 27 7 12 4 5 Compute the following price index numbers for 2005 from the above table: i. Laspeyre’s price index number ii. Paasche’s price index numberThe following table gives information on the Consumer Price Index (Base = 1982–84) and the monthly take-home pay of Bill Martin, an employee at Ford Motor Corporation, from 1982−84 and 2018. Consumer Price Index Mr. Martin’s Monthly Year (1982−84 = 100) Take-Home Pay 1982−84 100.0 $ 600 2018 251.107 7,000The following table shows the approximate number of wireless telephone subscriptions in a certain country for recent years.
- The following table presents prices, in thousands of dollars, of single-family homes for 20 of the largest metropolitan areas in the United States for the first quarter of 2012 and the first quarter of 2013. . Metro Area 2012 2013 Boston, MA 311.5 332.2 Chicago, IL 157.2 159.4 Cincinnati, OH 112.5 121.0 Cleveland, OH 84.9 101.0 Dallas, TX 148.2 160.4 Denver, CO 226.4 261.2 Houston, TX 152.1 163.7 Los Angeles, CA 122.1 155.1 Miami, FL 182.0 219.9 Minneapolis, MN 147.3 170.6 Metro Area 2012 2013 New York, NY 363.8 368.2 Philadelphia, PA 193.5 197.7 Phoenix, AZ 129.9 169.0 Portland, OR 208.6 246.5 Riverside, CA 174.3 216.7 St. Louis, MO 103.7 111.0 San Diego, CA 359.5 412.3 San Francisco, CA 448.0…A mining company finds that daily lost-work injuries averages to 1.2. If the local union contract has a clause requiring that the mine be shut down as soon as three workers incur lost-work injuries, on what percentage of the days will the mine be operational throughout the day?The following data is given for Soweto Hospital with regards to the number of patients admitted in the first half of the year ended 30 June 2023 and the total costs incurred by the hospital to treat these patients in this period:MonthNumber of patients admittedTotal costs incurred by the hospital (Rands)January20050 000February20050 000March25055 000April25055 000May30060 000June15045 000Required:Calculate the variable cost per unit and total fixed costs by using the Least Squares (Simple Regression Analysis) method.
- The following table presents the manufacturer’s suggested retail price (in $1000s) for base models and styles of BMW automobiles. 35.3 37.3 41.1 43.1 40.0 45.0 47.0 53.1 55.1 46.8 51.4 53.4 57.7 64.0 51.2 53.2 86.5 89.5 95.6 102.7 58.9 54.8 47.8 50.4 52.4 54.0 56.0 69.2 77.7 103.1 137.7 69.9 76.9 73.4 80.4 63.5 a. Construct (fill out) a frequency distribution using 5 classes that have a class width of 21. Begin with a lower limit of 35. Include the classes, boundaries or midpoints, frequency, and relative frequency. Class Frequency Relative Frequency Boundaries or midpoints (your choice) b. Draw a frequency or relative frequency histogram. Completely label your axis and place a title on your graph.Consider the following monthly revenue data for an up-and-coming cyber security company.Sales Data Month Revenue (Thousands of Dollars) Month Revenue (Thousands of Dollars) 11 326326 1010 816816 22 552552 1111 827827 33 535535 1212 846846 44 571571 1313 850850 55 636636 1414 849849 66 685685 1515 854854 77 700700 1616 867867 88 705705 1717 875875 99 787787 1818 881881 The summary output from a regression analysis of the data is also provided.Regression Statistics Multiple R 0.9183542530.918354253 R Square 0.8433745340.843374534 Adjusted R Square 0.8335854420.833585442 Standard Error 63.399295263.3992952 Observations 1818 ANOVA dfdf SSSS MSMS FF Regression 11 346,295.581011346,295.581011 346,295.581011346,295.581011 86.1545245186.15452451 Residual 1616 64,311.53010064,311.530100 4019.4706314019.470631 Total 1717 410,607.111111410,607.111111 Coefficients Standard Error tt Stat P-value Intercept…Q3The following information was recorded in a toy store: Year 2016 Year 2017 Year 2018 Price Quantity Price Quantity Price Quantity Slime 6 50 9 60 10 56 Sticky tact 2 100 2 105 2 120 Stinky egg 4 60 4 50 6 60 Teddy Bear 10 30 11 26 12 24 Tortoise 8 40 11 39 12 36 Q3The following information was recorded in a toy store: (a) By using the above data, compute the Laspeyres Price Index for year 2018 by using year 2016 as base year. (b) Interpret your answer in part (a)). (c) By using the above data, compute the Paasche Price Index for year 2018 by using year 2016 as base year. (d) Which item has experienced the greatest inflation rate from year 2017 to year 2018? (Just state your answer, no calculation is needed in part (d)).
- Listed below is the selling price for a share of PepsiCO Inc. at the close of each year. Year Price Year Price 1990 12.9135 2000 49.5625 1991 16.8250 2001 48.6803 1992 20.6125 2002 42.2211 1993 20.3024 2003 46.6215 1994 18.3160 2004 52.2019 1995 27.7538 2005 59.8534 1996 29.0581 2006 62.0002 1997 36.0155 2007 77.5108 1998 40.6111 2008 54.7719 1999 35.0230 2009 60.8025 1.Estimate the selling price in 2014.…) Consider the following figures showing the situation of the Australian labourmarket in 2018 (figures are per thousand and in percentage).Employed persons ('000) 12 620.7Unemployed persons ('000) 711.9Unemployment rate (%) 5.4Participation rate (%) 65.6a. What is the labour force participation rate? Briefly checking some online sources is it lower or higherthan in other countries? Try to provide some explanation for the difference.b. Assume that the participation rate in Australia changes to 63%, but the adult population and the numberof employed remain unchanged (hint: if the adult population is not reported, you can calculate it easilyfrom the labour force and participation rate). What would be the labour force, the number ofunemployed, and the unemployment rate?c. Go to the latest LFS by the ABS at: www.abs.gov.au/ausstats/abs@.nsf/mf/6202.0. How does the currentsituation compare with 2018? Spend about 10 minutes going through the website and report at least oneobservation you find…A mining company finds that daily lost-work injuries average 1.2. If the local union contract has a clause requiring that the mine be shut down as soon as three workers incur lost-work injuries, on what percentage of the days will the mine be operational throughout the day?
