Exam 20: Index Numbers

TABLE 16-15 Given below are the average prices for three types of energy products for five consecutive years. -Referring to Table 16-15,what are the simple price indices for electricity,natural gas and fuel oil,respectively,in year 1 using year 5 as the base year?

Free

(Short Answer)

4.9/5

(41)

Question 1

Correct Answer:

Verified

88.73,91.22 and 90.74

TABLE 16-16 Given below are the prices of a basket of four food items from 2008 to 2012. -Referring to Table 16-16,what is the Laspeyres price index for the basket of four food items in 2011 that consisted of 50 bushels of wheat,30 bushels of corn,40 bushels of soybeans and 80 hundredweight of milk in 2008 using 2008 as the base year?

Free

(Short Answer)

4.7/5

(32)

Question 2

Correct Answer:

Verified

83.91

True or False: The consumer price index is a Paasche price index.

Free

(True/False)

4.8/5

(26)

Question 3

Correct Answer:

Verified

False

TABLE 16-15 Given below are the average prices for three types of energy products for five consecutive years. -Referring to Table 16-15,what is the Paasche price index for the group of three energy items in year 4 for a family that consumed 13 units of electricity,26 units of natural gas and 235 units of fuel oil in year 4 using year 1 as the base year?

(Short Answer)

4.8/5

(39)

Question 4

TABLE 16-15 Given below are the average prices for three types of energy products for five consecutive years. -Referring to Table 16-15,what are the simple price indices for electricity,natural gas and fuel oil,respectively,in year 3 using year 1 as the base year?

(Short Answer)

4.9/5

(34)

Question 5

TABLE 16-16 Given below are the prices of a basket of four food items from 2008 to 2012. -Referring to Table 16-16,what is the Paasche price index for the basket of four food items in 2011 that consisted of 60 bushels of wheat,40 bushels of corn,35 bushels of soybeans and 70 hundredweight of milk in 2011 using 2008 as the base year?

(Short Answer)

4.8/5

(39)

Question 6

True or False: The Laspeyres price index has the disadvantage that the consumption pattern in the initial period might be quite different from that in the current period and,hence,does not reflect accurately the current consumption cost.

(True/False)

4.9/5

(33)

Question 7

TABLE 16-15 Given below are the average prices for three types of energy products for five consecutive years. -Referring to Table 16-15,what is the unweighted aggregate price index for the group of three energy items in year 5 using year 1 as the base year?

(Short Answer)

4.8/5

(31)

Question 8

TABLE 16-16 Given below are the prices of a basket of four food items from 2008 to 2012. -Referring to Table 16-16,what is the Paasche price index for the basket of four food items in 2010 that consisted of 50 bushels of wheat,30 bushels of corn,40 bushels of soybeans and 80 hundredweight of milk in 2010 using 2008 as the base year?

(Short Answer)

4.9/5

(38)

Question 9

True or False: Unweighted aggregate price indices account for differences in the magnitude of prices per unit and differences in the consumption levels of the items in the market basket.

(True/False)

4.9/5

(29)

Question 10

TABLE 16-16 Given below are the prices of a basket of four food items from 2008 to 2012. -Referring to Table 16-16,what are the simple price indices for wheat,corn,soybeans and milk,respectively,in 2011 using 2008 as the base year?

(Short Answer)

5.0/5

(29)

Question 11

TABLE 16-15 Given below are the average prices for three types of energy products for five consecutive years. -Referring to Table 16-15,what are the simple price indices for electricity,natural gas and fuel oil,respectively,in year 4 using year 1 as the base year?

(Short Answer)

4.8/5

(34)

Question 12

True or False: A simple price index tracks the price of a group of commodities at a given period of time to the price paid for that group of commodities at a particular point of time in the past.

(True/False)

4.9/5

(29)

Question 13

TABLE 16-15 Given below are the average prices for three types of energy products for five consecutive years. -Referring to Table 16-15,what is the Laspeyres price index for the group of three energy items in year 5 for a family that consumed 15 units of electricity,24 units of natural gas and 200 units of fuel oil in year 1 using year 1 as the base year?

(Short Answer)

4.9/5

(35)

Question 14

True or False: The Paasche price index uses the consumption quantities in the year of interest as the weights.

(True/False)

4.7/5

(37)

Question 15

TABLE 16-16 Given below are the prices of a basket of four food items from 2008 to 2012. -Referring to Table 16-16,what is the unweighted aggregate price index for the basket of four food items in 2010 using 2008 as the base year?

(Short Answer)

4.8/5

(29)

Question 16

TABLE 16-16 Given below are the prices of a basket of four food items from 2008 to 2012. -Referring to Table 16-16,what is the unweighted aggregate price index for the basket of four food items in 2011 using 2008 as the base year?

(Short Answer)

4.8/5

(32)

Question 17

True or False: The Paasche price index has the disadvantage that current consumption quantities are usually hard to obtain.

(True/False)

4.7/5

(38)

Question 18

TABLE 16-15 Given below are the average prices for three types of energy products for five consecutive years. -Referring to Table 16-15,what are the simple price indices for electricity,natural gas and fuel oil,respectively,in year 5 using year 1 as the base year?

(Short Answer)

4.7/5

(37)

Question 19

TABLE 16-16 Given below are the prices of a basket of four food items from 2008 to 2012. -Referring to Table 16-16,what is the Paasche price index for the basket of four food items in 2012 that consisted of 40 bushels of wheat,50 bushels of corn,35 bushels of soybeans and 60 hundredweight of milk in 2012 using 2008 as the base year?

(Short Answer)

4.9/5

(37)

Question 20

Showing 1 - 20 of 44

Exam 20: Index Numbers

TABLE 16-15 Given below are the average prices for three types of energy products for five consecutive years. -Referring to Table 16-15,what are the simple price indices for electricity,natural gas and fuel oil,respectively,in year 1 using year 5 as the base year?

True or False: The consumer price index is a Paasche price index.

TABLE 16-15 Given below are the average prices for three types of energy products for five consecutive years. -Referring to Table 16-15,what are the simple price indices for electricity,natural gas and fuel oil,respectively,in year 3 using year 1 as the base year?

True or False: The Laspeyres price index has the disadvantage that the consumption pattern in the initial period might be quite different from that in the current period and,hence,does not reflect accurately the current consumption cost.

TABLE 16-15 Given below are the average prices for three types of energy products for five consecutive years. -Referring to Table 16-15,what is the unweighted aggregate price index for the group of three energy items in year 5 using year 1 as the base year?

True or False: Unweighted aggregate price indices account for differences in the magnitude of prices per unit and differences in the consumption levels of the items in the market basket.

TABLE 16-16 Given below are the prices of a basket of four food items from 2008 to 2012. -Referring to Table 16-16,what are the simple price indices for wheat,corn,soybeans and milk,respectively,in 2011 using 2008 as the base year?

TABLE 16-15 Given below are the average prices for three types of energy products for five consecutive years. -Referring to Table 16-15,what are the simple price indices for electricity,natural gas and fuel oil,respectively,in year 4 using year 1 as the base year?

True or False: A simple price index tracks the price of a group of commodities at a given period of time to the price paid for that group of commodities at a particular point of time in the past.

True or False: The Paasche price index uses the consumption quantities in the year of interest as the weights.

TABLE 16-16 Given below are the prices of a basket of four food items from 2008 to 2012. -Referring to Table 16-16,what is the unweighted aggregate price index for the basket of four food items in 2010 using 2008 as the base year?

TABLE 16-16 Given below are the prices of a basket of four food items from 2008 to 2012. -Referring to Table 16-16,what is the unweighted aggregate price index for the basket of four food items in 2011 using 2008 as the base year?

True or False: The Paasche price index has the disadvantage that current consumption quantities are usually hard to obtain.

TABLE 16-15 Given below are the average prices for three types of energy products for five consecutive years. -Referring to Table 16-15,what are the simple price indices for electricity,natural gas and fuel oil,respectively,in year 5 using year 1 as the base year?

Defining and Collecting Data

Numerical Descriptive Measures

Basic Probability

Discrete Probability Distributions

The Normal Distribution and Other Continuous Distributions

Sampling Distributions

Confidence Interval Estimation

Fundamentals of Hypothesis Testing: One-Sample Tests

Two-Sample Tests

Analysis of Variance

Chi-Square Tests and Nonparametric Tests

Simple Linear Regression

Introduction to Multiple Regression

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A Roadmap for Analyzing Data

Statistical Applications in Quality Management

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Chi-Square Tests for the Variance or Standard Deviation

Mcnemar Test for the Difference Between Two Proportions Related Samples

The Analysis of Means Anom

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The Randomized Block Design

The Power of a Test

Estimation and Sample Size Determination for Finite Populations

Application of Confidence Interval Estimation in Auditing

Sampling From Finite Populations

The Normal Approximation to the Binomial Distribution

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