Fruit prices and the amounts consumed for 2010 and 2018 are shown. Use 2010 as the base. 2010 2018 Fruit Bananas (pound) Grapefruit (each) Apples (pound) Strawberries (basket) Oranges (bag) Price $0.28 e.26 0.33 Quantity Quantity 115 Price 100 $0.34 e.46 50 60 85 0.74 85 1.e2 e.89 8. 1.56 10 6. 1.16 %media:2excel.ext% Click here for the Excel Data File a. Determine the simple price indexes. (Round your answers to 2 decimal places.) Fruit Simple index Bananas Grapefruit Apples Strawberries Oranges b. Determine the simple aggregate price index for the two years. (Round your answer to 2 decimal places.) Simple aggregate price index c. Determine the Laspeyres price index. (Round your answer to 2 decimal places.) Laspeyres price index

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter1: Variables, Expressions, And Integers
Section1.5: Adding Integers
Problem 45E
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Fruit prices and the amounts consumed for 2010 and 2018 are shown. Use 2010 as the base.
2010
2018
Fruit
Bananas (pound)
Grapefruit (each)
Apples (pound)
Strawberries (basket)
Oranges (bag)
Price
$0.28
Quantity
Price
Quantity
100
$0.34
115
0.26
50
0.46
60
0.33
85
0.74
85
1.02
8
1.56
10
e.89
1.16
%media:2excel.ext% Click here for the Excel Data File
a. Determine the simple price indexes. (Round your answers to 2 decimal places.)
Fruit
Simple index
Bananas
Grapefruit
Apples
Strawberries
Oranges
b. Determine the simple aggregate price index for the two years. (Round your answer to 2 decimal places.)
Simple aggregate price index
c. Determine the Laspeyres price index. (Round your answer to 2 decimal places.)
Laspeyres price index
d. Determine the Paasche price index. (Round your answer to 2 decimal places.)
Paasche price index
e. Determine Fisher's ideal index. (Round your answer to 2 decimal places.)
Fisher's ideal index
Transcribed Image Text:Fruit prices and the amounts consumed for 2010 and 2018 are shown. Use 2010 as the base. 2010 2018 Fruit Bananas (pound) Grapefruit (each) Apples (pound) Strawberries (basket) Oranges (bag) Price $0.28 Quantity Price Quantity 100 $0.34 115 0.26 50 0.46 60 0.33 85 0.74 85 1.02 8 1.56 10 e.89 1.16 %media:2excel.ext% Click here for the Excel Data File a. Determine the simple price indexes. (Round your answers to 2 decimal places.) Fruit Simple index Bananas Grapefruit Apples Strawberries Oranges b. Determine the simple aggregate price index for the two years. (Round your answer to 2 decimal places.) Simple aggregate price index c. Determine the Laspeyres price index. (Round your answer to 2 decimal places.) Laspeyres price index d. Determine the Paasche price index. (Round your answer to 2 decimal places.) Paasche price index e. Determine Fisher's ideal index. (Round your answer to 2 decimal places.) Fisher's ideal index
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