Question

) In January 2004, the price for a roast porc was 2.99 per kilogram. In September...

) In January 2004, the price for a roast porc was 2.99 per kilogram. In September 2014, the price for the same roast porc was $6.19. (Round the final answers to 1 decimal place.)

A)Use the January 2004 price as the base period and 100 as the base value to develop a simple index.

B)By what percentage has the cost of roast porc increased during the 10-year period?

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Let's write the given information.

In January 2004, the price for a roast porc was 2.99 per kilogram.

In September 2014, the price for the same roast porc was $6.19.

A) The simple price Index = ( price of current year / price of base year ) * 100

= (6.19/2.99)*100 = 207.0234 % = 207.0 %

B) The simple price index number of the year 2014 by taking 2004 as a base year is 207.0%.

Therefore about 107 percente has the cost of roast porc increased during the 10-year period.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The following information is from General Electric Corporation annual reports. YearRevenue ($ million)Employees Year Revenue ($...
The following information is from General Electric Corporation annual reports. YearRevenue ($ million)Employees Year Revenue ($ million) Employees (000) 2004 134 298 2005 152 302 2006 157 316 2007 168 323 2008 177 336 2009 183 324 2010 150 297 2011 147 290 2012 147 300 2013 146 308 2014 149 302 2015 151 326 Compute a simple index for the number of employees for GE using the period 2004−06 as the base. (Round your answers to 1 decimal place.)...
Many factors influence the retail price of gasoline. Suppose the following table shows the average retail...
Many factors influence the retail price of gasoline. Suppose the following table shows the average retail price for a gallon of regular grade gasoline for each year from 2011 through 2014. (Round your answers to one decimal place.) Year Average Price ($) 2011 3.526 2012 3.608 2013 3.515 2014 3.368 (a)Use 2011 as the base year and develop a price index for the retail price of a gallon of regular grade gasoline over this four-year period. 2011 price index=____?_____ 2012...
Suppose seafood price and quantity data for the years 2000 and 2009 follow. Use 2000 as...
Suppose seafood price and quantity data for the years 2000 and 2009 follow. Use 2000 as the base period. Seafood 2000 Qty. (lb) 2000 Price ($/lb) 2009 Price ($/lb) Halibut 75,090 1.91 2.33 Lobster 83,180 3.72 3.09 Tuna 50,779 1.87 1.97 (a) Compute the index number (price relative) for each type of seafood. (Round your answers to one decimal place.) Seafood Price Relative Halibut Lobster Tuna (b) Compute a weighted aggregate price index for the seafood catch. (Round your answer...
The table below reports the earnings per share of common stock for Home Depot Inc. for...
The table below reports the earnings per share of common stock for Home Depot Inc. for 2003 through 2015. Year Earnings per Share 2003 $ 1.64 2004 1.94 2005 2.33 2006 2.81 2007 2.81 2008 2.44 2009 1.40 2010 1.66 2011 2.04 2012 2.55 2013 3.80 2014 6.40 2015 9.63 Click here for the Excel Data File Develop an index, with 2003 as the base, for earnings per share for years 2004 through 2015. (Round your answers to 1 decimal...
Suppose seafood price and quantity data for the years 2000 and 2009 follow. Use 2000 as...
Suppose seafood price and quantity data for the years 2000 and 2009 follow. Use 2000 as the base period. Seafood 2000 Qty. (lb) 2000 Price ($/lb) 2009 Price ($/lb) Halibut 75,190 1.91 2.23 Lobster 83,280 3.62 3.09 Tuna 50,779 1.87 1.97 (a) Compute a price relative for each type of seafood. (Round your answers to one decimal place.) Seafood Price Relative Halibut Lobster Tuna (b) Compute a weighted aggregate price index for the seafood catch. (Round your answer to one...
Suppose seafood price and quantity data for the years 2000 and 2009 follow. Use 2000 as...
Suppose seafood price and quantity data for the years 2000 and 2009 follow. Use 2000 as the base period. Seafood 2000 Qty. (lb) 2000 Price ($/lb) 2009 Price ($/lb) Halibut 75,090 2.01 2.43 Lobster 83,280 3.72 3.09 Tuna 50,779 1.87 1.97 (a) Compute the index number (price relative) for each type of seafood. (Round your answers to one decimal place.) Seafood Price Relative Halibut Lobster Tuna (b) Compute a weighted aggregate price index for the seafood catch. (Round your answer...
The consumer price index (CPI) is a​ fixed-weight index. It compares the price of a fixed...
The consumer price index (CPI) is a​ fixed-weight index. It compares the price of a fixed bundle of goods in one year with the price of the same bundle of goods in some base year. Suppose the market basket to compute the consumer price index consists of 200 units of good​ X, 175 units of good ​Y, and 60 units of good Z. Year 2013 is the base year. Prices of these goods for the years​ 2013, 2014, and 2015...
Consider a fictional price index, the College Student Price Index (CSPI), based on a typical college...
Consider a fictional price index, the College Student Price Index (CSPI), based on a typical college student’s annual purchases. Suppose the following table shows information on the market basket for the CSPI and the prices of each of the goods in 2014, 2015, and 2016. The cost of each item in the basket and the total cost of the basket are shown for 2014. Perform these same calculations for 2015 and 2016, and enter the results in the following table....
A large manufacturer purchases an identical component from three independent suppliers that differ in unit price...
A large manufacturer purchases an identical component from three independent suppliers that differ in unit price and quantity supplied. The relevant data for 2012 and 2014 are given here. Unit Price ($) Supplier Quantity (2012) 2012 2014 A 150 5.45 6.00 B 200 5.60 5.95 C 160 5.50 6.70 (a) Compute the price relatives (index number) for each of the component suppliers separately using 2012 as the base year. (Round your answers to the nearest integer.) Item Price Relative A...
Listed below is the selling price for a share of PepsiCo Inc. at the close of...
Listed below is the selling price for a share of PepsiCo Inc. at the close of each year from 1998 to 2015. Year Price 1998 40.6111 1999 35.0230 2000 49.5625 2001 48.68 2002 42.22 2003 46.62 2004 52.20 2005 59.85 2006 62.00 2007 77.51 2008 54.77 2009 60.80 2010 65.33 2011 66.35 2012 68.43 2013 82.94 2014 94.56 2015 99.92 Plot the stock price in the order in which the data are presented. Determine the least squares trend equation. (Round...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT