EBK STATISTICAL TECHNIQUES IN BUSINESS
EBK STATISTICAL TECHNIQUES IN BUSINESS
17th Edition
ISBN: 9781259924163
Author: Lind
Publisher: MCGRAW HILL BOOK COMPANY
bartleby

Concept explainers

bartleby

Videos

Question
Book Icon
Chapter 17, Problem 1.1SR
To determine

Develop and interpret the index using Country U as based period.

Find the percent of more steel does Country C produce than Country U.

Expert Solution & Answer
Check Mark

Answer to Problem 1.1SR

The index is given below:

CountryAmountIndex
C822.7932.8
J110.7125.5
U88.2100
I86.598.1
R71.581.1

Country C produced 832.8% more steel than Country C.

Explanation of Solution

Calculation:

The index using Country U as based period is obtained as follows:

CountryAmountIndex(P)=ptp0×100
C822.7822.788.2×100=932.8
J110.7110.788.2×100=125.5
U88.288.288.2×100=100
I86.586.588.2×100=98.1
R71.571.588.2×100=81.1

From the table, it is observed that Country C produced 832.8% more steel than Country C.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
30% of all college students major in STEM (Science, Technology, Engineering, and Math). If 48 college students are randomly selected, find the probability thata. Exactly 12 of them major in STEM. b. At most 17 of them major in STEM. c. At least 12 of them major in STEM. d. Between 9 and 13 (including 9 and 13) of them major in STEM.
7% of all Americans live in poverty. If 40 Americans are randomly selected, find the probability thata.  Exactly 4 of them live in poverty. b.  At most 1 of them live in poverty. c.  At least 1 of them live in poverty. d.  Between 2 and 9 (including 2 and 9) of them live in poverty.
48% of all violent felons in the prison system are repeat offenders. If 40 violent felons are randomly selected, find the probability that   a. Exactly 18 of them are repeat offenders. b. At most 18 of them are repeat offenders. c. At least 18 of them are repeat offenders. d. Between 17 and 21 (including 17 and 21) of them are repeat offenders.
Knowledge Booster
Background pattern image
Statistics
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Algebra: Structure And Method, Book 1
Algebra
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:McDougal Littell
Text book image
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Text book image
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Use of ALGEBRA in REAL LIFE; Author: Fast and Easy Maths !;https://www.youtube.com/watch?v=9_PbWFpvkDc;License: Standard YouTube License, CC-BY
Compound Interest Formula Explained, Investment, Monthly & Continuously, Word Problems, Algebra; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=P182Abv3fOk;License: Standard YouTube License, CC-BY
Applications of Algebra (Digit, Age, Work, Clock, Mixture and Rate Problems); Author: EngineerProf PH;https://www.youtube.com/watch?v=Y8aJ_wYCS2g;License: Standard YouTube License, CC-BY