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 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...

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

See More Books

Question Posted: Dec 14, 2020 12:35 AM

See More Questions

Compute a simple aggregate price index. Use 2010 as the base period. 2010 2018 Item Price Quantity Price Quantity Margarine (pound) Shortening (pound) Milk (2 gallon) Potato chips $0.81 18 $2.00 27...
Compute a simple aggregate price index. Use 2010 as the base period. Price Quantity Item 2010 2018 2010 2018 Cabbage (pound) $0.06 $0.05 2,000 1,500 Carrots (bunch) Peas (quart) 0.10 0.12 200 200...
Compute a simple aggregate price index. Use 2010 as the base period. Price Quantity Item 2010 2018 2010 2018 Aluminum (cents per pound) Natural gas $ per million BLA Petroleum (barrel) Platinum (troy...
In September 2020 Kevin sells a drawing for 2,000. He bought the drawing in February 2014 for 50,000 when it was thought (incorrectly) to be by a famous artist. Compute the allowable loss.
As someone who came of age in the "post e-mail" world of blogs, wikis, social networks, and other Web 2.0 technologies, you were rather disappointed to find your new employer solidly stuck in the age...
9FashionHubisanonlinefashionretailer.FashionHubhastoorderitsstock6monthsinadvancefromitsmanufacturersformajorsaleevents,includingBlackFriday.IfFashionHubordersthewrongstockandthestockisnotsoldduringth...
In what two ways are market values limited as valuation bases for assets and liabilities?
Tiny Corp. prepares monthly bank reconciliations of its checking account balance. The bank statement for October 2009 indicated the following: Balance, October 31, 2009 ................$7,920 Service...
5. value: 3.00 points The management of Unter Corporation, an architectural design firm, is considering an investment with the following cash flows: Investment $58,000 $ 8,000 Year 1 2 3 4 4 5 6 7 8...
5,000 kg/h of water will be heated from 20C to 35C by hot water at 140C. A 15C hot water temperature drop is allowed. A number of double-pipe heat exchangers, each connected in series, will be used....
Fruit prices and the amounts consumed for 2010 and 2018 are shown. Use 2010 as the base. a. Determine the simple price indexes. b. Determine the simple aggregate price index for the two years. c....
Following are the quantities and prices for the years 2010 and 2018 for Kinzua Valley Geriatrics. Use 2010 as the base period. a. Determine the simple price indexes. b. Determine the simple aggregate...
Many Americans marvel at the success of the Japanese economy and political system. They are also concerned with the recent setbacks in the Japanese economy. Describe the basic features of the...
Listed below are the lead concentrations (in ug/g) measured in different Ayurveda medicines. Ayurveda is a traditional medical system commonly used in India. The lead concentrations listed here are...
The assignment states to use a movie and talk about 2 scenes where physics ideas are used. The rubric is shown and 6 big ideas that can be talked about are also attached. Background Information...
A series of computer and backup system failures caused the loss of most of the company records at Stotter, Incorporated. Information technology consultants for the company could recover only a few...
Future value of an annuity Using the values below, answer the questions that follow. (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Deposit period...
Mercury, Incorporated, produces cell phones at its plant in Texas. In recent years, the company's market share has been eroded by stiff competition from overseas. Price and product quality are the...
What potential problem might arise if time fences are not used? Why?
What recommendations would you make to Big Four firms to help them (1) avoid confrontations with governmental officials in an authoritarian society and (2) deal effectively with such confrontations...
The Greater Jacksonville, Florida, Real Estate Association claims that the median rental for three-bedroom condominiums is more than $1,200 a month. A random sample of 149 units showed 5 rented for...
The Citrus Council of America wants to determine whether consumers prefer plain orange juice or juice with some orange pulp in it. A random sample of 212 consumers was selected. Each member of the...
Early in the basketball season, 12 college teams appeared to be outstanding. A panel of sportswriters and a panel of college basketball coaches were asked to rank the 12 teams. Their composite...
The market price of a stock is $24.55 and it is expected to pay a dividend of $1.44 next year. The required rate of return is 11.23%. What is the expected growth rate of the dividend? Submit Answer...
Suppose Universal Forests current stock price is $59.00 and it is likely to pay a $0.57 dividend next year. Since analysts estimate Universal Forest will have a 13.8 percent growth rate, what is its...
ABC Company engaged in the following transaction in October 2 0 1 7 Oct 7 Sold Merchandise on credit to L Barrett $ 6 0 0 0 8 Purchased merchandise on credit from Bennett Company $ 1 2 , 0 0 0 . 9...

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

Question:

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

Step by Step Answer:

a b c d e Pr Ps 0...View the full answer

Statistical Techniques In Business And Economics

Students also viewed these Mathematics questions