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...

See similar textbooks

Similar questions

What is the total effect on the economy of a government tax rebate of $500 to each household in order to stimulate the economy if each household will spend of the rebate in goods and services?
2. This table shows the mean and median total cash income for married-couple households (including wages, public assistance, interest/dividends, Social Security, pensions, etc.), by race and Hispanic origin. a apaa Median Household Mean Household Income ($) Income ($) Asian 110,453 78,010 66,893 110,138 145,948 Black 97,667 Hispanic White, non-Hispanic 88,450 129,142 a. Pick one group and interpret the median and the mean. b. For each group, how do the mean and the median compare? Explain why you think this must be the case.
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
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
4. The following table provides the average price of Regular Grade of gasoline for 4 years. Use 2015 as the reference value, complete the table by calculating the price index for each year. Show all your calculation in the space provided. Date 2013 2014 2015 2016 Regular Grade Gasoline Prices Price $3.505 $3.358 $2.429 $2.143 Price Index
John Kittle, an independent insurance agent, uses a five-year moving average to forecast the number of claims made in a single year for one of the large insurance companies he sells for. He has just discovered that a clerk in his employ incorrectly entered the number of claims made four years ago as 1,400 when it should have been 1,200.a. What adjustment should Mr. Kittle make in next year’s forecast to take into account the corrected value of the number of claims four years ago?b. Suppose that Mr. Kittle used simple exponential smoothing with a = .2instead of moving averages to determine his forecast. What adjustment is now required in next year’s forecast? (Note that you do not need to know the value of the forecast for next year in order to solve this problem.)
a) The average temperature (Centigrade) in London varies from 14C to 31C during the year. i. Calculate indices based on March, base = 100 ii. What is the %age variation between the highest and the lowest temperatures? Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Temp C 15 22 19 24 29 28 31 28 27 22 18 14 Index b) Below are the no of customers, visiting a local Tesco Express, in the first week of holiday season. The store manager would like to avoid stock out in the busy period. Provide forecast of sales on Saturday next week, using 3 point moving average and seasonal variation. Assume same seasonal variation next period.

Recommended textbooks for you

Intermediate Algebra

Algebra

ISBN:

9780998625720

Author:

Lynn Marecek

Publisher:

OpenStax College

Glencoe Algebra 1, Student Edition, 9780079039897…

Algebra

ISBN:

9780079039897

Author:

Carter

Publisher:

McGraw Hill

Intermediate Algebra

Algebra

ISBN:

9780998625720

Author:

Lynn Marecek

Publisher:

OpenStax College

Glencoe Algebra 1, Student Edition, 9780079039897…

Algebra

ISBN:

9780079039897

Author:

Carter

Publisher:

McGraw Hill

SEE MORE TEXTBOOKS