STATISTICAL TECHNIQUES IN BUS.+ECON.
STATISTICAL TECHNIQUES IN BUS.+ECON.
18th Edition
ISBN: 9781260239478
Author: Lind
Publisher: RENT MCG
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Chapter 17, Problem 30CE
To determine

The Paasches’ index for 2018 using 2010 as the base period.

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Below is information on food items for the years 2000 and 2009.a. Compute a simple price index for each of the four items. Use 2000 as the base period.b. Compute a simple aggregate price index. Use 2000 as the base period.c. Compute weighted aggregate index number. Use 2000 as the base period.
Use the following price information for selected items for 2010 and 2018. Production figures for those two periods are also given.    Price   Quantity       Item 2018 2018 2010 2018     Aluminum (cents per pound)  0.63  0.67 1,005 1,362     Natural gas (1,000 cu. ft.) 4.18 2.80 4,755 5,834     Petroleum (barrel) 71.02 57.96 71,619 74,074     Platinum (troy ounce) 1,743.41 1,292.34 647 537                     Determine a value index for 2018 using 2010 as the base period. (Round your answer to 2 decimal places.)
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