STAT TECH IN BUSINESS & ECON LL\AC
18th Edition
ISBN: 9781264720545
Author: Lind
Publisher: MCG
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Question
Chapter 17, Problem 42CE
To determine
To find: The Paasche’s index for 2018 using 2010 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.)
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.
Chapter 17 Solutions
STAT TECH IN BUSINESS & ECON LL\AC
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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- The Oxford Dictionary defines the word nominal asa value that is “stated or expressed but notnecessarily corresponding exactly to the real value.[18]Develop a reasonable argument for why the termnominal rate is used to describe the annual percentagerate of an investment account that compoundsinterest.arrow_forwardUse the following price information for selected foods for 2000 and 2013 given in the following table in the image. 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 Laspeyres’ price index for 2013 using 2000 as the base period.arrow_forwardUse the following price information for selected items for 2010 and 2018. Production figures for those two periods are also given. Price Quantity Item 2010 2018 2010 2018 Aluminum (cents per pound) $ 0.82 $ 0.86 1,000 1,200 Natural gas $ per million BLA 4.37 2.99 5,000 4,000 Petroleum (barrel) 71.21 58.15 60,000 60,000 Platinum (troy ounce) 1,743.60 1,292.53 500 600arrow_forward
- Use the following price information for selected items for 2010 and 2018. Production figures for those two periods are also given. Price Quantity Item 2010 2018 2010 2018 Aluminum (cents per pound) $ 0.82 $ 0.86 1,000 1,200 Natural gas $ per million BLA 4.37 2.99 5,000 4,000 Petroleum (barrel) 71.21 58.15 60,000 60,000 Platinum (troy ounce) 1,743.60 1,292.53 500 600 Determine Fisher's ideal index for 2018 using 2010 as the base period. (Round your answer to 2 decimal places.)arrow_forward4. The following table provides the average price of Regular Grade of gasoline for 4 years. Use 2015 as the reference value, complete the table by calculating the price index for each year. Show all your calculation in the space provided. Date 2013 2014 2015 2016 Regular Grade Gasoline Prices Price $3.505 $3.358 $2.429 $2.143 Price Indexarrow_forwardthe following table provides the average price of regular grade gasoline for 4 years. Use 2015 as the reference value, complete the table by calculating the price index for each year. Show all your calculationarrow_forward
- Suppose that the Producer Price Index and the sales of Hoskin’s Wholesale Distributors for 2006 and 2018 are: What are Hoskin's real sales (also called deflated sales) for the 2 years? (Round your answers to the nearest whole dollar.)arrow_forwardCreate a line chart for the closing price for all years and a stock chart for the high/low/close prices for 2011 through 2012 in the accompanying s&p 500 data. Then choose the correct sock chart for the high/low/close prices for 2011 through 2012arrow_forward
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