Shown here are retail price figures and quantity estimates for five different food commodities over 3 years.
Question:
Shown here are retail price figures and quantity estimates for five different food commodities over 3 years. Use these data and a base year of 2007 to compute unweighted aggregate price indexes for this market basket of food. Using a base year of 2007, calculate Laspeyres price indexes and Paasche price indexes for 2008 and2009.
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2007 2008 2009 Item Margarine Shortening 0.94 Price Quantity Price Quantity Price Quantity 1.26 21 1.32 23 1.3922 (lb.) 5 0.97 1.12 4 (lb.) Milk (1/2 gal.) 1.43 706 68 1.62 65 Cola (2 liters 1.05 1203 1.25 11 Potato chips 27 2.86 29 2.9928 (12 oz.)
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2007 2008 2009 Item Price Quantity Price Quantity Price Quantity Margarine lb 126 21 132 23 139 22 S...View the full answer
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Related Book For
Business Statistics for Contemporary Decision Making
ISBN: 978-0470910184
6th Edition
Authors: Ken Black
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