In: Statistics and Probability
The following table reports prices and usage quantities for two items in 2009 and 2011. (Round your answers to the nearest integer.)
Quantity | Unit Price ($) | |||
---|---|---|---|---|
Item | 2009 | 2011 | 2009 | 2011 |
A | 1,500 | 1,800 | 7.50 | 7.15 |
B | 4 | 2 | 650.00 | 1,500.00 |
(a) Compute price relatives for each item in 2011 using 2009 as the base period.
Item | Price Relative |
---|---|
A | |
B |
(b) Compute an unweighted aggregate price index for the two items in 2011 using 2009 as the base period.
I2011 =
(c) Compute a weighted aggregate price index for the two items using the Laspeyres method using 2009 as the base period.
I2011 =
(d) Compute a weighted aggregate price index for the two items using the Paasche method using 2009 as the base period.
I2011 =