The following table reports prices and usage quantities for two items in 2009 and 2011. (Round your answers to the nearest integer.) Quantity Unit Price ($) Item 2009 2011 2009 2011 | 1,400 1,700 7.50 A 7.55 650.00 1,400.00 (a) Compute price relatives for each item in 2011 using 2009 as the base period. Item Price Relative A В (b) Compute an unweighted aggregate price index for the two items in 2011 using 2009 as the base period. 2011 (c) Compute a weighted aggregate price index for the two items using the Laspeyres method using 2009 as the base period. 2011

The following table reports prices and usage quantities for two items in 2009 and 2011. (Round your answers to the nearest integer.) Quantity Unit Price ($) Item 2009 2011 2009 2011 | 1,400 1,700 7.50 A 7.55 650.00 1,400.00 (a) Compute price relatives for each item in 2011 using 2009 as the base period. Item Price Relative A В (b) Compute an unweighted aggregate price index for the two items in 2011 using 2009 as the base period. 2011 (c) Compute a weighted aggregate price index for the two items using the Laspeyres method using 2009 as the base period. 2011

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 1.1CE

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