Question
The data in the table below shows the price (in Rands) and the quantity of three items on a restaurant's menu for the 2015 and
The data in the table below shows the price (in Rands) and the quantity of three items on a restaurant's menu for the 2015 and 2020 financial years, respectively.
2015 | 2015 | 2020 | 2020 | |
ITEM | PRICE | QUANTITY | PRICE | QUANTITY |
Cup of coffee | 8.50 | 50 | 10.50 | 60 |
Toasted cheese sandwich | 13.00 | 35 | 14.00 | 25 |
English muffin | 9.00 | 120 | 9.50 | 138 |
The preliminary analysis of the data produced the following table:
po | qo | p1 | q1 | poqo | poq1 | p1qo | p1q1 |
8.50 | 50 | 10.50 | 60 | 425 | 510 | 525 | 630 |
13.00 | 35 | 14.00 | 25 | 455 | 325 | 490 | 350 |
9.00 | 120 | 9.50 | 138 | 1080 | X | 1140 | 1311 |
= | W | Y | 2155 | Z |
Using the table of analysis shown above, answer the following questions (use 2015 as the base year):
Answer ALL the questions in this section. PLEASE
21. Determine the missing values represented by the letters: W, X, Y and Z.
A W = 1960 X = 1142 Y = 1777 and Z = 2291.
B W = 1960 X = 1442 Y = 2277 and Z = 2291.
C W = 1960 X = 1242 Y = 2077 and Z = 2291.
D W = 1960 X = 1242 Y = 1277 and Z = 2291.
22. Calculate the Laspeyres Price Index, Lp.
A 109.95
B 105.97
C 107.06
D 116.95
23. Calculate the Laspeyres Quantity Index, Lq.
A 106.95
B 102.93
C 108.06
D 105.97
24. Calculate the Paasche Price Index, Pp.
A 106.31
B 112.93
C 105.06
D 110.30
25. Which one of the following statements is patently false?
A In applying the Laspeyres indexes, the selection of the base year is of critical importance.
B The weights used in the Laspeyres indexes are based in a historical period.
C Generally, the Laspeyres indexes are robust to a structural change in weights.
D Theoretically, the Laspeyres Index contains an inbuilt upward bias and thus overstates the actual value
PLEASE HELP IN RETURN I WILL PROVIDE A THUMBS UP!!!!!!!!!!!!
THANK YOUUUU SOMUCHHHHH
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