Statistics for Business & Economics, Revised (MindTap Course List)
12th Edition
ISBN: 9781285846323
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: South-Western College Pub
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Chapter 20, Problem 19SE
To determine
Find the Paasche index for the shipping cost.
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A certain manufacturing company has the following data on quantities shipped and unit costs for each of its four products.
Products
Base-PeriodQuantities (Year 1)
Mean Shipping Costper Unit ($)
Year 1
Year 5
A
2,000
10.50
15.90
B
5,000
16.25
32.00
C
6,500
12.20
16.40
D
2,500
20.00
35.50
Use the price data to compute a Paasche index for the shipping cost if year 5 quantities are 4,500, 3,000, 7,500, and 3,000 for products A, B, C, and D, respectively. (Round your answer to the nearest integer.)
I5 = ??
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.)
IOG Technologies offers semiconductor and system solutions for automotive industrial and multimarket sectors for applications in communication. The following data relates to the production of three products manufactured by them:
Product
Price (RM)
Quantity
2000
2016
2000
2016
BD-1005
3.00
3.20
60
80
LCM-2134
2.00
2.50
100
90
DDK-456
3.50
4.00
500
700
Determine the Laspeyres Price Index (LPI) and Paasche Price Index (PPI) for 2016 using 2000 as the base period.
Chapter 20 Solutions
Statistics for Business & Economics, Revised (MindTap Course List)
Ch. 20.2 - The following table reports prices and usage...Ch. 20.2 - An item with a price relative of 132 cost 10.75 in...Ch. 20.2 - A large manufacturer purchases an identical...Ch. 20.2 - Prob. 4ECh. 20.2 - Under the last-in, first-out (LIFO) inventory...Ch. 20.3 - Price relatives for three items, along with...Ch. 20.3 - The Mitchell Chemical Company produces a special...Ch. 20.3 - Prob. 8ECh. 20.3 - Compute the price relatives for the RB Beverages...Ch. 20.5 - Registered nurses in 2007 made an average hourly...
Ch. 20.5 - The average hourly wage rate for construction...Ch. 20.5 - Shipments of product from manufacturer to the...Ch. 20.5 - Prob. 13ECh. 20.7 - Prob. 14ECh. 20.7 - Prob. 15ECh. 20.7 - An automobile dealer reports the 1994 and 2011...Ch. 20 - Many factors influence the retail price of...Ch. 20 - Prob. 18SECh. 20 - Prob. 19SECh. 20 - Boran Stockbrokers, Inc., selects four stocks for...Ch. 20 - Compute the price relatives for the four stocks...Ch. 20 - Prob. 22SECh. 20 - Seafood price and quantity data are reported by...Ch. 20 - Prob. 24SECh. 20 - The closing price of Apple stock, adjusted for...Ch. 20 - Prob. 26SE
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- The accompanying data show the South African population versus expenditure on new construction works by the public sector. Data was obtained from Statistics South Africa for the period between 2014 to 2017. Year S.A. Population (per million) (x) Expenditure on new construction (per million) (y) 2014 44.12 17.38 2015 44.68 19.20 2016 45.25 20.25 2017 45.80 36.49 Σx= 179.85 Σy= 93.32 Σxy = 4212.2161 Σx2 = 8088.0793 Σy2 = 2412.2870 Using the information above, determine which of the following statements are correct? A. slope=-442.832 which measures the change in Y per unit change in X. B. slope=10.3678, which measures the change in Y per unit change in X. C. slope=0.0694, which is a measure of the strength of the linear relationship D. slope=10.3462, which is a measure of the strength of the linear relationshiparrow_forwardThe following table indicates the unit prices (in Rands) and quantities of three intermediate products consumed by a car factory in Silverton, Pretoria, for the months of March and May of 2024. Product MARCH 2024 MAY 2024 Unit Price (p0) Quantity (q0)) Unit Price (p1) Quantity (q1) Door handles R333.70 4020 R335.70 4235 Wheels R2017.00 9120 R2029.40 8910 Mirror Switches R61.50 7150 R62.70 7100 Q.2.1 Using March 2024 as the base period, compute the quantity relatives in May 2024 for door handles and wheels. Interpret your answers. Q.2.2 Using March 2024 as the base period, compute the Paasche price index for all of the products for May 2024. Interpret your answer. Q.2.3 Using March 2024 as the base period, compute the Laspeyres price index for all of the products for May 2024. Interpret your answer.arrow_forward
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