The prices and the numbers of various items produced by a small machine and stamping plant are reported below. Use 2010 as the base
The prices and the numbers of various items produced by a small machine and stamping plant are reported below. Use 2010 as the base
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter7: Applying Fractions
Section7.6: Percents Problems
Problem 13WE
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The prices and the numbers of various items produced by a small machine and stamping plant are reported below. Use 2010 as the base.
2010 | 2018 | ||||||||||
Item | Price | Quantity | Price | Quantity | |||||||
Washer | $ | 0.07 | 17,000 | $ | 0.10 | 20,000 | |||||
Cotter pin | 0.04 | 125,000 | 0.03 | 130,000 | |||||||
Stove bolt | 0.15 | 40,000 | 0.15 | 42,000 | |||||||
Hex nut | 0.08 | 62,000 | 0.10 | 65,000 | |||||||
a. Determine the simple price indexes. (Round your answers to 2 decimal places.)
b. Determine the simple aggregate price index for the two years. (Round your answer to 2 decimal places.)
c. Determine the Laspeyres price index. (Round your answer to 2 decimal places.)
d. Determine the Paasche price index. (Round your answer to 2 decimal places.)
e. Determine Fisher's ideal index. (Round your answer to 2 decimal places.)
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