A large manufacturer purchases an identical component from three independent suppliers that differ in unit price and quantity supplied. The relevant data for 2012 and 2014 are given here. Unit Price ($) Supplier Quantity (2012) 2012 2014 A 100 4.95 5.50 B 200 5.60 5.95 120 5.50 6.20 (a) Compute the price relatives for each of the component suppliers separately. Compare the price increases by the suppliers over the two-year period. (b) Compute an unweighted aggregate price index for the component part in 2014. (c) Compute a 2014 weighted aggregate price index for the component part. Wwhat is the interpretation of this index for the manufacturing firm?

(a) Use class intervals of $0 to <$3, $3 to <$6, $6 to <$9, etc., to create a relative frequency distribution for these data. (Round your answers for relative frequency to four decimal places.) Class Interval Frequency Relative Frequency $0 <$3 $3 <$6 $6 <$9 $9 <$12 $12- <$15 $15 <$18 $18 <$21 TOTAL (b) Construct a histogram. Frequency 14 12 10 8 6 4 Frequency 14 12 10 8 6 4 2 3 3 4 3 51 3 6 9 12 15 18 21 6 0.0588 9 0.0784 0.0588 12 15 18 21 Cost Cost Frequency 14 12 10 8 6 4 Frequency 15 10 5 3 6 9 3 6 9 12 15 18 21 12 15 18 Comment on its shape. O This is a unimodal distribution with a peak at the 0-3 class. The distribution is positively skewed. This is a bimodal distribution with peaks at the 12-15 and 18-21 classes. The distribution is negatively skewed. O This is a bimodal distribution with peaks at the 0-3 and 6-9 classes. The distribution is positively skewed. O This is a unimodal distribution with a peak at the 9-12 class. The distribution is reasonably symmetric. 21 Cost Cost…

Month Actual demand Forecasted Demand 1 950 1000 2 1070 1000 3 1100 1000 4 960 1000 5 1090 1000 6 1050 1000 For the dataset above, compute the overall MAPE.

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