The following table reports prices and usage quantities for two items in 2009 and 2011. (Round your answers to the nearest integer.) Quantity Unit Price ($) Item 2009 2011 2009 2011 | 1,400 1,700 7.50 A 7.55 650.00 1,400.00 (a) Compute price relatives for each item in 2011 using 2009 as the base period. Item Price Relative A В (b) Compute an unweighted aggregate price index for the two items in 2011 using 2009 as the base period. 2011 (c) Compute a weighted aggregate price index for the two items using the Laspeyres method using 2009 as the base period. 2011

The following table reports prices and usage quantities for two items in 2009 and 2011. (Round your answers to the nearest integer.) Quantity Unit Price ($) Item 2009 2011 2009 2011 | 1,400 1,700 7.50 A 7.55 650.00 1,400.00 (a) Compute price relatives for each item in 2011 using 2009 as the base period. Item Price Relative A В (b) Compute an unweighted aggregate price index for the two items in 2011 using 2009 as the base period. 2011 (c) Compute a weighted aggregate price index for the two items using the Laspeyres method using 2009 as the base period. 2011

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 3E: Metropolitan Hospital has estimated its average monthly bed needs as N=1,000+9X where...

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AD has estimated the following demand relationship for its product over the last four years, using monthly observations: ln Qt = 4.932- 1.238 ln Pt + 1.524 ln Yt-1 + 0.4865lnQt-1(2.54) (1.38) (3.65) (2.87)R2= 0.8738where Q = sales in units, P = price in Rs., Y is income in Rs,000, and the numbers in brackets are t-statistics.a. Interpret the above model.b. Make a sales forecast if price is Rs. 9, income last month was Rs. 25,000 and sales last month were 2,981 units.c. Make a sales forecast for the following month if there is no change in price or income.d. If price is increased by 5 per cent in general terms, estimate the effect on sales, stating any assumptions.
FORCASTING Month Time QJan 1 46Feb 2 56Mar 3 72Apr 4 67May 5 77Jun 6 66Jul 7 69Aug 8 79Sep 9 88Oct 10 91Nov 11 94Dec 12 104Jan ?Feb ? Make a forecast of the demand for the month of January and February
Question 6 If a market basket was defined in 2014 and it cost $10,000 to purchase the items in that basket in 2014, while it cost $11,000 to purchase those identical goods in 2015, then the price index for 2015 is a (10000/11000)*100=90.9. b) 100. c) (11000/10000)*100=110. d) unknown given this data.
kad has estimated the following demand relationship for its product over the last four years, using monthly observations: ln qt = 4.932- 1.238 ln pt + 1.524 ln yt-1 + 0.4865ln qt-1 (2.54) (1.38) (3.65) (2.87) r 2= 0.8738 where q = sales in units, p = price in rs., y is income in rs,000, and the numbers in brackets are t-statistics. a. interpret the above model. b. make a sales forecast if price is rs. 9, income last month was rs. 25,000 and sales last month were 2,981 units. c. make a sales forecast for the following month if there is no change in price or income. d. if price is increased by 5 per cent in general terms, estimate the effect on sales, stating any assumptions.
G.283.