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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Textbook Question
Chapter 20.2, Problem 3E
A large manufacturer purchases an identical component from three independent suppliers that differ in unit price and quantity supplied. The relevant data for 2009 and 2011 are given here.
Unit Price (S) | |||
Supplier | Quantity (2007) | 2009 | 2011 |
A | 150 | 5.45 | 6.00 |
B | 200 | 5.60 | 5.95 |
C | 120 | 530 | 6.20 |
- a. Compute the price relatives for each of the component suppliers separately. Compare the price increases by the suppliers over the two-year period.
- b. Compute an unweighted aggregate price index for the component part in 2011.
- c. Compute a 2011 weighted aggregate price index for the component part. What is the interpretation of this index for the manufacturing firm?
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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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