The following table gives the prices of some food items in the base year and current year and the quantities sold in the base year and current year. COMMODITY 2000 2005 PRICE $ QUANTITY PRICE $ QUANTITY A 15 15 22 12 B 20 5 27 4 C 4 10 7 5 Compute the following price index numbers for 2005 from the above table: i. Laspeyre’s price index number ii. Paasche’s price index number
The following table gives the prices of some food items in the base year and current year and the quantities sold in the base year and current year. COMMODITY 2000 2005 PRICE $ QUANTITY PRICE $ QUANTITY A 15 15 22 12 B 20 5 27 4 C 4 10 7 5 Compute the following price index numbers for 2005 from the above table: i. Laspeyre’s price index number ii. Paasche’s price index number
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.3: Simple Regression Models
Problem 9P
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The following table gives the prices of some food items in the base year and current year and the quantities sold in the base year and current year.
COMMODITY | 2000 | 2005 | ||
PRICE $ | QUANTITY | PRICE $ | QUANTITY | |
A | 15 | 15 | 22 | 12 |
B | 20 | 5 | 27 | 4 |
C | 4 | 10 | 7 | 5 |
Compute the following price index numbers for 2005 from the above table:
i. Laspeyre’s price index number
ii. Paasche’s price index number
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