base year and using (i) arithmetic mean, (b) geometric mean, and (c) mediamconstruct the index number by simple relative method for 1998 taking 1995 as iCommoditiesQRS102540Price in 1995Prices in 199820302530153545 From the following data relating to average prices of certain commodities

Answered: Image /qna-images/answer/f550e232-ef5a-45c1-98c1-8c6e2bd8bc7a.jpg

Answered: construct the index number by simple…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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The Big Mac index is a way of measuring Purchasing Power Parity (PPP) between different countries. By diverting the average national Big Mac prices to U.S. dollars, the same goods can be informally compared. The Big Mac can also be a good indicator for the individual purchasing power of an economy since he exists worldwide in standard size, composition and quality. Price # of Countries Rel. f. Cum. f 1.50-1.99 2 2.00-2.49 4 2.50-2.99 7 3.00-3.49 9. 3.50-3.99 7 4.00-4.49 8 4.50-4.99 9 5.00-5.49 7 5.50-5.99 1 6.00-6.49 2 6.50-6.99 1 a. What is the statistical name of the table above? b. How many countries were sampled? c. State the class width. d. Calculate the mean and standard deviation of the average prices of a Big Mac worldwide. Attach correct symbols and units to your answers. Explain how you obtained your answers.
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construct the index number by simple relative method for 1998 takıng 1995 ast base year and using (i) arithmetic mean, (b) geometric mean, and (c) medi- Commodities Q R S 25 Price in 1995 Prices in 1998 20 30 10 40 25 30 15 35 45