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

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