Calculate a price index for 2018, 2019, and 2020 using the following information about prices. Let the market basket consist of the price of one pizza pie, two sodas, and four caffe lattes. Let the year 2018 be the base year (with an index value of 100). See the instruction video, "inflation.ppsm".
|
Year |
Price of a pizza |
Price of a Soda |
Price of a Caffe Latte |
|
2018 2019 2020 |
$6.00 $6.50 $7.0 |
$0.50 $0.55 $0.65 |
$1.50 $2.20 $2.60 |
A. Calculate the price index for each year. To compute the price index for each year, you must first compute cost of market basket for each year (Show mathematical steps in detail to receive full credits).
B. How much inflation occurred between 2018 and 2019? Between 2018 and 2020? In other words, what is the change in the price index between 2018 vs 2019 and 2018 vs 2020?
1. Show mathematical steps in detail
2. interpret what the computed numbers (inflation rate) indicate in detail
In: Economics
a) Explain in your own words what economic events and
life events influenced Ostrom to develop her ideas about
cooperation and management of communal resources?
b) Explain in your own words what aspects of economic
development and previous economic thinkers helped Schumpeter to
develop some of his more popular ideas?
In: Economics
Explain what is happening to your body with coronavirus. Explain what happens from the time you breathe in an air droplet to when it causes organ failure.
In: Anatomy and Physiology
1. In a study of red/green color blindness, 850 850 men and 2950 2950 women are randomly selected and tested. Among the men, 79 79 have red/green color blindness. Among the women, 8 8 have red/green color blindness. Test the claim that men have a higher rate of red/green color blindness. The test statistic is The p-value is Is there sufficient evidence to support the claim that men have a higher rate of red/green color blindness than women using the 0.01 0.01 % significance level? A. Yes B. No 2. Construct the 99 99 % confidence interval for the difference between the color blindness rates of men and women. <( p 1 − p 2 )< <(p1−p2)< Which of the following is the correct interpretation for your answer in part 2? A. We can be 99 99 % confident that the difference between the rates of red/green color blindness for men and women lies in the interval B. We can be 99 99 % confident that that the difference between the rates of red/green color blindness for men and women in the sample lies in the interval C. There is a 99 99 % chance that that the difference between the rates of red/green color blindness for men and women lies in the interval D. None of the above
In: Math
Hi Max. You brought up a fantastic point about internal controls! Section 404 is probably the most infamous section of the Act. It required management to perform an in-depth assessment of their internal controls and required the external audit firm to issue an opinion on management's assessment. This section was met with great opposition in the corporate world due to the cost implications. That's one aspect of Sarbanes-Oxley that is often ignored in discussions. For most large companies to comply, it was extremely costly - as in millions and millions of dollars!
Class, do you think there was any way to meet the same objectives but with a reduced cost? Why or why not?
In: Accounting
A recent study on serious car accidents involving male drivers aged 18-24 found that 50% of the accidents were caused by excessive speed, 30% of the accidents caused by mobile phone use and 10% of the accidents involved the driver speeding and using his mobile phone.
Hint: Use a Venn diagram to help answer the following questions about the serious car accidents
e) Are speeding and mobile use mutually exclusive events? Explain.
f) Are speeding and mobile use independent events? Explain
In: Statistics and Probability
| 0 | 0.5 | 1.2 | 2 | 2.5 | 3 | 3.5 | 4 | 4.5 | 5.5 |
| 63 | 66 | 69 | 75 | 78 | 81 | 84 | 87 | 90 | 96 |
A survey asked students for their college and their satisfaction with their program. The results are provided in the tables below.
Determine if there is a relationship between college and satisfaction at the 0.05 level of significance.
H0: College and Satisfaction are independent.
Ha: College and Satisfaction are dependent.
Determine the critical value from the chart. Explain what chart you used and how you found the value.
Determine the test statistic from your calculator. Explain what test you used in the calculator and the information you entered into the calculator.
Using your critical value and test statistic, state your conclusion. Explain how you arrived at your conclusion.
What is the conclusion in context?
In: Statistics and Probability
A cross-sectional study was conducted on the association between passive smoke inhalation and the occurrence of dental caries in children. (Passive smoke exposure occurs when children live with family members who smoke.) The investigators thought that conclusions from this study were limited because of the cross-sectional nature of the data. Suppose that they asked you for advice and you told them that they should have conducted a prospective cohort study because it is a better study design.
a. Briefly describe the specific limitation of a cross-sectional study is avoided by conducting a prospective cohort study.
b. The investigators take your advice and hire you to help them design a new prospective cohort study. They want to know if they should use a special or a general cohort to assemble the exposed population. Briefly describe each of these options, tell them which one is best in this setting, and explain your reasons.
c. The investigators also ask you about the options for selecting a comparison group in a cohort study. Briefly describe the three different options and state which one is best in this setting and why.
In: Statistics and Probability
There are 35 identically sized balls in a box, where 5 of each of the colors are present: red, orange, yellow, green, blue, indigo, and violet. Justify your answer for each.
a. Suppose you draw a sample of seven balls without replacement from the box. What is the probability that the sample contains balls of exactly two colors? (for example, the event for which you have 4 red and 3 blue would satisfy)
b. Suppose you draw a sample of seven balls with replacement from the box (you draw one, then replace, draw one, then replace, and so on). What is the probability that the sample contains balls of exactly two colors?
c. Suppose you draw a sample of three balls without replacement. Define ? to be the random variable on the number of red balls in the sample and ? the random variable on the number of orange balls in the sample. Find the joint probability distribution function ??,?(?, ?) for the random variables ? and
In: Statistics and Probability
FOR HTML Web scripting
Complete the following:
In: Computer Science