The prices and the numbers of various items produced by a small machine and stamping plant are
Question:
The prices and the numbers of various items produced by a small machine and stamping plant are reported in the table. Use 2010 as the base.
a. Determine the simple price indexes.
b. Determine the simple aggregate price index for the two years.
c. Determine the Laspeyres price index.
d. Determine the Paasche price index.
e. Determine Fisher’s ideal index.
Transcribed Image Text:
2010 2018 Item Price Quantity Price Quantity Washer $0.07 17,000 $0.10 20,000 Cotter pin 0.04 125,000 0.03 130,000 Stove bolt 0.15 40,000 0.15 42,000 Hex nut 0.08 62,000 0.10 65,000
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Related Book For
Statistical Techniques In Business And Economics
ISBN: 9781260239478
18th Edition
Authors: Douglas Lind, William Marchal, Samuel Wathen
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