Suppose the following data represent the price of 20 reams of office paper over a 50-year time
Question:
Suppose the following data represent the price of 20 reams of office paper over a 50-year time frame. Find the simple index numbers for the data.
a. Let 1950 be the base year.
b. Let 1980 be the baseyear.
Transcribed Image Text:
Year Year 1980 1985 1990 1995 2000 2005 Price Price 1950 1955 1960 1965 1970 1975 $22.45 31.40 32.33 36.50 44.90 61.24 $69.75 73.44 80.05 84.61 87.28 89.56
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Year Price a Index 1950 b Index 1980 1950 2245 1000 322 1955 ...View the full answer
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Related Book For
Business Statistics for Contemporary Decision Making
ISBN: 978-0470910184
6th Edition
Authors: Ken Black
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