Consider the following price and quantity data of three products from 2008 to 2010. Year Product 1

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Consider the following price and quantity data of three products from 2008 to 2010.

Year Product 1 Product 2 Product 3 2008 Price $14.30 $13.90 $18.10 Quantity 992 1,110 800 2009 Price $14.90 $13.70 $18.50 Quantity 980 1220 790 2010 Price $15.50 $13.80 $17.90 Quantity 140 1290 810

a. Compute the simple price index for each product, using 2008 as the base year.

b. Compare the relative price movements of the three products.

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Business Statistics Communicating With Numbers

ISBN: 9780071317610

1st Edition

Authors: Kelly Jaggia

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Question Posted: Jul 27, 2024 08:01 AM

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Consider the following price and quantity data of three products from 2008 to 2010. Year Product 1

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Business Statistics Communicating With Numbers

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