A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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You are given the following information regarding four items. (Round your answers to two decimal places.)
Item 2010 Price 2010 Quantity 2015 Price 2015 Quantity
A $1.90 3 $5.50 7
B $0.90 19 $1.50 9
C $21.00 4 $36.00 3
D $6.00 2 $16.00 1
(a)
Calculate the price relative index for each item, using 2010 as the base year.
Item Price Relative
A ?
B ?
C ?
D ?
(b)Calculate the unweighted aggregate price index using 2010 as the base year.
I2015 = ??
 
(c)Calculate a Laspeyres index using 2010 as the base year.
I2015 = ??
 
(d)Calculate a Paasche index using 2010 as the base year.
I2015 = ??
 
(e)Construct a weighted aggregate quantity index using 2010 as the base year and price as the weight.
I2015 = ??
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