An item with a price relative of 132 cost $10.75 in 2018. Its base year was 2001.
Question:
An item with a price relative of 132 cost $10.75 in 2018. Its base year was 2001.
a. What was the percentage increase or decrease in cost of the item over the 17-year period?
b. What did the item cost in 2001?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (10 reviews)
a From the price relative we see ...View the full answer
Answered By
Bhartendu Goyal
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions. I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and help them achieve great subject knowledge. I have expertise in computer subjects like C++, C, Java, and Python programming and other computer Science related fields. Many of my student's parents message me that your lessons improved their children's grades and this is the best only thing you want as a tea...
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Statistics For Business & Economics
ISBN: 9781337901062
14th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Question Posted:
Students also viewed these Mathematics questions
-
An item with a price relative of 132 cost $10.75 in 2009. Its base year was 1992. a. What was the percentage increase or decrease in cost of the item over the 17-year period? b. What did the item...
-
An item with a price relative of 132 cost $10.75 in 2011. Its base year was 1994. a. What was the percentage increase or decrease in cost of the item over the 17-year period? b. What did the item...
-
The sale price of an item with a 33% discount on its list price L Write an algebraic expression for the verbal description.
-
Danone will make a euro 95 million acquisition in Ethiopia, paid in three equal instalments of Ethiopian Birr in 6,12 and 24 months. The spot rate for Birr is 47.9 and one year and two year forward...
-
Why is the grade of a bond in a grinding wheel important?
-
A cuboctahedron has 6 square faces and 8 equilateral triangle faces, as shown. A cuboctahedron can be made by slicing off the corners of a cube. a. Sketch a net for the cuboctahedron. b. Each edge of...
-
A person donates a bag of clothes to Goodwill completely unaware that there is valuable sterling silver in the bag. The clothing and silver are subsequently sold, for a very economical price, to...
-
1. Would Lyles claim of racial discrimination be for intentional (disparate-treatment) or unintentional (disparate-impact) discrimination? Explain. 2. Can Lyle establish a prima facie case of racial...
-
You ask your sister to look up the stock prices of two different companies: Carnival Cruise Lines (CCL) and, the world's largest toilet paper producer, Procter & Gamble (PG). How have the stock...
-
According to the nonprofit group Zero Population Growth, 78% of the U.S. population now lives in urban areas. Scientists at Princeton University and the University of Wisconsin report that about 15%...
-
The following table reports prices and usage quantities for two items in 2016 and 2018. a. Compute price relatives for each item in 2018 using 2016 as the base period. b. Compute an unweighted...
-
Fastenal, the largest fastener distributor in North America, procures an identical drive anchor from three independent suppliers that differ in unit price and quantity supplied. The relevant data for...
-
Find two linearly independent Frobenius series solutions (for x > 0) of each of the differential equations in Problems 17 through 26. 2x 2 y" + xy' - (3 - 2x 2 ) y = 0
-
The so-called MacLaurin series expansion for sin x is given by: sin x = x - 3 x5 + - 7 x 3! 5! 7! +... 1) Prove that this expansion is actually a special case of the Taylor series studied in class....
-
Sheridan Corporation purchased from its stockholders 5,900 shares of its own previously issued stock for $295,000. It later resold 1,600 shares for $53 per share, then 1,600 more shares for $48 per...
-
You are the foodservice manager. Last month your labor expense was $50,000, your food expense was $45,000, and your other expenses were $15,000. If your total Revenue equaled $128,500, what was your...
-
Find the product and simplify if possible. (m + n) m-n 2 m 3 +mn
-
Kenny Rogers Roasters recently reported $85,632 in Cash, $878,000 in Accounts Receivable, $1,716,000 in Inventory, $6,034,000 in Sales, $817,040 in net fixed assets, $3,496,672 in Total Assets, and...
-
Nucor Corporation produces steel and steel products at its eight mills and is a major recycler of scrap metal. The following data relate to Nucor for four years. Required: 1. Calculate Nucor's ROA...
-
Write a paper about the Working relationship in the organization- collaboration within and outside the organization
-
A well-known bank credit card firm wishes to estimate the proportion of credit card holders who carry a nonzero balance at the end of the month and incur an interest charge. Assume that the desired...
-
A study by Consumer Reports showed that 64% of supermarket shoppers believe supermarket brands to be as good as national name brands. To investigate whether this result applies to its own product,...
-
At Western University the historical mean of scholarship examination scores for freshman applications is 900. Historical population standard deviation 180 is assumed known. Each year, the assistant...
-
On 1 / 1 / 2 0 1 9 X CO acquired 8 0 % of Y common stock for $ 1 5 0 , 0 0 0 in the same day the Y net assets was $ 1 4 0 , 0 0 0 , in the same date the fair value of assets and liabilities were...
-
Stanley s Custom Homes is calculating its bad debt expense for 2 0 2 0 . Total sales in 2 0 2 0 were $ 5 0 8 , 9 0 0 . Collections on account were $ 4 2 9 , 6 0 0 . During 2 0 2 0 , the company...
-
Early Career Critical Thinking The Internal Audit department at Pluto - Cola assigns its team members to special working groups every year. Each group is assigned specific types of internal projects,...
Study smarter with the SolutionInn App