Quantitative Methods 1 Assignment 5 For Full marks you must show detailed calculations for your answers. Question 1: In January 2001 the price for a whole fresh chicken was $1.99 per kilogram. In September 2011 the price for the same chicken was $5.49. Use the January 2001 price as the base period and 100 as the base value to develop a simple index. By what percent has the cost of chicken increased during the 10-year period? Question 2: Following are the quantities and prices of office supplies for the years 2001 and 2011 for Sam's Student Centre. 1. Determine the simple price indexes. 2. Determine the simple aggregate price indexes for the two years. 3. Determine Laspeyres's price index. 4. Determine Paasche's price index 5. Determine Fisher's ideal index. Question 2: Following are the quantities and prices of office supplies for the years 2001 and 2011 for Sam's Student Centre. 1. Determine the simple price indexes. 2. Determine the simple aggregate price indexes for the two years. 3. Determine Laspeyres's price index. 4. Determine Paasche's price index 5. Determine Fisher's ideal index. 2001 2011 Item Price ($) Quantity Price ($) Quantity Pens (dozen) $0.90 50 $1.10 55 Pencils (dozen) 0.65 50 0.80 8 60 Erasers (each) 0.45 250 0.55 275 Paper, lined (pkg) 0.89 500 1.09 750 Paper, printer (pkg) 5.99 300 4.99 450 Printer (cartridges) 15.99 150 19.99 200