For Exercises 45 through 50, use the following price information for selected items for 2015 and 2022.

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For Exercises 45 through 50, use the following price information for selected items for 2015 and 2022. Production figures for those two periods are also given.

Compute a simple price index for each of the four items. Use 2015 as the base period.

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Statistical Techniques In Business And Economics

ISBN: 9781265779696

19th Edition

Authors: Douglas Lind, William Marchal, Samuel Wathen

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Question Posted: May 29, 2023 06:56 AM

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For Exercises 45 through 50, use the following price information for selected items for 2015 and 2022.

Question:

Item Aluminum (cents per pound) Natural gas $ per million BLA Petroleum (barrel) Platinum (troy ounce) 2015 $ 0.82 4.37 71.21 1,743.60 Price 2022 $0.86 2.99 58.15 1,292.53 Quantity 2015 1,000 5,000 60,000 500 2022 1,200 4,000 60,000 600

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Statistical Techniques In Business And Economics

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