Fruit prices and the amounts consumed for 2010 and 2018 are shown. Use 2010 as the base.

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2010 2018 Fruit Price Quantity Price Quantity Bananas (pound) $0.23 100 $0.69 120 Grapefruit (each) Apples (pound) Strawberries (basket) Oranges (bag) 0.29 50 1.00 55 0.35 85 1.89 85 1.02 8 3.79 10 0.89 2.99 8

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.

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Statistical Techniques In Business And Economics

ISBN: 9781260239478

18th Edition

Authors: Douglas Lind, William Marchal, Samuel Wathen

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Question Posted: Dec 14, 2020 12:35 AM

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Fruit prices and the amounts consumed for 2010 and 2018 are shown. Use 2010 as the base.

Question:

2010 2018 Fruit Price Quantity Price Quantity Bananas (pound) $0.23 100 $0.69 120 Grapefruit (each) Apples (pound) Strawberries (basket) Oranges (bag) 0.29 50 1.00 55 0.35 85 1.89 85 1.02 8 3.79 10 0.89 2.99 8

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Statistical Techniques In Business And Economics

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