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

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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.

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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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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

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Statistical Techniques In Business And Economics

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