42. In a working class budget enquiry in towns A and B, it was found in 2014that an average working class family's expenditure on food and other items was as follows :Town ATown B50%50%() Food(i) Other itemsIn 2017, the consumer price index stood at 279 for town A, 265 for town B (Base year2014 = 100). It was known that the rise in the prices of all articles consumed by the working classwas the same for A and B.What was the 2017 index for (a) food, and (b) other items ?64%36%

Introduction - Simple index number - IT is the ratio of two values representing the same variable…

Answered: 42. In a working class budget enquiry…

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...

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What is the total effect on the economy of a government tax rebate of $500 to each household in order to stimulate the economy if each household will spend of the rebate in goods and services?
An enquiry into the budgets of the middle class families of a certain city revealed that on an average the percentage expenses in the different groups were : Food 45, Rent 15, Clothing 12, Fuel and Light 8, Miscellaneous 20. The group indices for the current year as compared with a fixed base period were respectively 410, 150, 343, 248 and 285. Calculate the cost of Living Index Number for the current year. Mr. X was getting Dollar 240 in the base period and 430 in the current year. State how much he ought to have received as extra allowance to maintain his former standard of living ?
The Consumer Price Index provides a means of determining the purchasing power of the U.S. dollar from one year to the next. To use the Consumer Price Index to predict a price in a particular year, we can set up a proportion and compare it with a known price in another year as follows:(price in year A)/(index in year A)=(price in year B)/(index in year B)In 1986 the Consumer Price Index was 109.6 and in 2010 it was 218.1. Find the amount that would be charged in 2010 for the use of the same amount of electricity that cost $110 in 1986. Give your answer to the nearest dollar.
10. From the following data of the daily wage of 500 workers of a factory find the number of workers : (a) whose wages are more than Rs. 370 but not more than Rs. 400. (b) whose wages are less than Rs. 370 but not less than Rs. 350. 0412 Wages not exceeding Rs. 300 = 150 workers Wages not exceeding Rs. 350 = 180 workers Wages not exceeding Rs. 400 = 240 workers Wages not exceeding Rs. 450 = 400 workers Wages not exceeding Rs. 500 = 500 workersdo orw atnebute
Q. 7 How do you construct of cost of living index number.
During the class project for Marketing Research, you wanted to understand whether there is a difference in spend by students for different expense categories like clothes, entertainment, and fast food. (Expenses indicated below are standardized spends in INR "00 i.e. 8 means INR 800, 7 means INR 700 etc.): Monthly Spend Clothes Student 1 Student 2 Student 3 Student 4 Student 5 8. 10 7. 14 11 Entertainment 10 9. 9. Fast Food 12 9. 13 12 14 Carry out appropriate statistical tests to understand whether there is difference in spends for 3 categories of expenses for students

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