STATISTICAL TECHNIQUES-ACCESS ONLY
STATISTICAL TECHNIQUES-ACCESS ONLY
16th Edition
ISBN: 9780077639648
Author: Lind
Publisher: MCG
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Chapter 17, Problem 32CE
To determine

Find the value index for 2013 using 2000 as the base period.

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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.)
Use the following table of index numbers based on the price of a pound of coffee. The index numbers use 2011 as the base year. If you spent $4.75 for a pound of coffee in 2013, what would the price have been in 2007? Year 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Coffee index 73.2 || 76.9 | 80.8 | 86.4 91.6 97.1 100.0 105.0 108.1|111.4 118.1 $ per pound (Round to the nearest cent as needed.) C
According to the National Chicken Council , the mean retail price per pound of chicken in 2010 was $1.54. In 2018, the retail price for chicken was $2.86 per pound.What is the simple index for the price per pound of chicken, using the 2010 price as the base period (Round your answer to 2 decimal place.)
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