EBK STATISTICAL TECHNIQUES IN BUSINESS
17th Edition
ISBN: 9781259924163
Author: Lind
Publisher: MCGRAW HILL BOOK COMPANY
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Chapter 17, Problem 24CE
To determine
Develop a simple index for the revenue of GE using the average of 2004–2006 as the base period.
Write the conclusion about the change in revenue over the period.
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Based on the following data, develop a weighted index for the price of a gallon of gasoline in 2017, when 1996 is the reference year having an index value of 99.2. The weight placed on regular unleaded gasoline is three times that of either premium or unleaded plus, because roughly three times as much regular unleaded is sold compared with premium or unleaded plus.
The following information is on food items for the years 2010 and 2018.
2010 2018
Item Price Quantity Price Quantity
Margarine (pound) $0.81 18 $2.00 27
Shortening (pound) 0.84 2 1.88 9
Milk (1/2 gallon) 1.44 74 2.89 63
Potato chips 2.91 26 3.99 32
Compute a simple aggregate price index. Use 2010 as the base period. (Round your answer to 2 decimal places.)
The following table shows the average monthly production of coal in tonnes for the year 2010-2019.
Year
Production (in tonnes)
Year
Production (in tonnes)
2010
50.0
2015
38.1
2011
36.5
2016
32.6
2012
43.0
2017
41.7
2013
44.5
2018
41.1
2014
38.9
2019
33.8
Compute the price indices from 2010 to 2019 by taking 2019 as the base year.
Compare the price of 2014 and 2017.
What is the percentage (%) change in the production from 2016 to 2019?
Chapter 17 Solutions
EBK STATISTICAL TECHNIQUES IN BUSINESS
Ch. 17 - Prob. 1.1SRCh. 17 - Prob. 1.2SRCh. 17 - Prob. 1ECh. 17 - Prob. 2ECh. 17 - Prob. 3ECh. 17 - Prob. 4ECh. 17 - Prob. 2SRCh. 17 - Prob. 5ECh. 17 - Prob. 6ECh. 17 - Prob. 7E
Ch. 17 - Prob. 8ECh. 17 - Prob. 3SRCh. 17 - Prob. 9ECh. 17 - Prob. 10ECh. 17 - Prob. 4SRCh. 17 - Prob. 11ECh. 17 - Prob. 5SRCh. 17 - Prob. 6SRCh. 17 - Prob. 7SRCh. 17 - Prob. 13ECh. 17 - Prob. 14ECh. 17 - Prob. 15ECh. 17 - Prob. 16ECh. 17 - Prob. 17CECh. 17 - Prob. 18CECh. 17 - Prob. 19CECh. 17 - Prob. 20CECh. 17 - Prob. 21CECh. 17 - Prob. 22CECh. 17 - Prob. 23CECh. 17 - Prob. 24CECh. 17 - Prob. 25CECh. 17 - Prob. 26CECh. 17 - Prob. 27CECh. 17 - Prob. 28CECh. 17 - Prob. 29CECh. 17 - Prob. 30CECh. 17 - Prob. 31CECh. 17 - Prob. 32CECh. 17 - Prob. 33CECh. 17 - Prob. 34CECh. 17 - Prob. 35CECh. 17 - Prob. 36CECh. 17 - Prob. 37CECh. 17 - Prob. 38CECh. 17 - Prob. 39CECh. 17 - Prob. 40CECh. 17 - Prob. 41CECh. 17 - Prob. 42CECh. 17 - Prob. 43CECh. 17 - Prob. 44CECh. 17 - Prob. 45CECh. 17 - Prob. 46CECh. 17 - Prob. 47CECh. 17 - Prob. 48CECh. 17 - Prob. 49CECh. 17 - Prob. 50CECh. 17 - Prob. 51CECh. 17 - Prob. 52CECh. 17 - Prob. 53CECh. 17 - Prob. 54CECh. 17 - Prob. 55CE
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