A random sample of 100 households has been selected in order to establis index for housing utilities. The following average annual figures have been obtained Price (Rand/Unit) 2018 Housing Utilities Electricity Gas 2017 1,97 7,90 Telephone 0,29 Water 2,40 2,05 8,25 0,30 2,45 2019 2,09 8,60 0,31 2,50 2017 62 9 296 55 Quantities 2018 64 9 297 56 2019 68 10 298 58 . a) Find the price relative for Electricity, using (2017= 100). Interpret. ) Find the quantity relative for Water, using (2018= 100). Interpret. Calculate the Laspeyre's price index for 2019, using 2017 = 100. What is the percentage increase in 2019 price over those in 2017? Interpret. Calculate the Paasche's price index for 2018, using 2017 = 100. What is the percentage increase in 2018 price over those in 2017? Interpret. By how much has this households utility in these four utilities changed betwee 2017 and 2019? Assume price are held constant at base year 2017.

A random sample of 100 households has been selected in order to establis index for housing utilities. The following average annual figures have been obtained Price (Rand/Unit) 2018 Housing Utilities Electricity Gas 2017 1,97 7,90 Telephone 0,29 Water 2,40 2,05 8,25 0,30 2,45 2019 2,09 8,60 0,31 2,50 2017 62 9 296 55 Quantities 2018 64 9 297 56 2019 68 10 298 58 . a) Find the price relative for Electricity, using (2017= 100). Interpret. ) Find the quantity relative for Water, using (2018= 100). Interpret. Calculate the Laspeyre's price index for 2019, using 2017 = 100. What is the percentage increase in 2019 price over those in 2017? Interpret. Calculate the Paasche's price index for 2018, using 2017 = 100. What is the percentage increase in 2018 price over those in 2017? Interpret. By how much has this households utility in these four utilities changed betwee 2017 and 2019? Assume price are held constant at base year 2017.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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