The prices and the numbers of various items produced by a small machine and stamping plant are

Question:

The prices and the numbers of various items produced by a small machine and stamping plant are reported in the table. Use 2010 as the base.

2010 2018 Item Price Quantity Price Quantity Washer $0.07 17,000 $0.10 20,000 Cotter pin 0.04 125,000 0.03 130,000 Stove bolt 0.15 40,000 0.15 42,000 Hex nut 0.08 62,000 0.10 65,000

a. Determine the simple price indexes.

b. Determine the simple aggregate price index for the two years.

c. Determine the Laspeyres price index.

d. Determine the Paasche price index.

e. Determine Fisher’s ideal index.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Statistical Techniques In Business And Economics

ISBN: 9781260239478

18th Edition

Authors: Douglas Lind, William Marchal, Samuel Wathen

Question Posted: