Question 1

An example of a weighted index is P = pt/p0.

Accepted Answer

A) True 
 B)False  False

Question 2

Suppose your annual 2005 salary was $95,000 and your 2010 salary was $125,000. Assume the annual CPI rose from 177.1 to 215.9 during this period of time.
What was your real income in 2010? _______

Accepted Answer

$57,897

Question 3

In a weighted index, what variable is usually the weight? ________________________

Accepted Answer

quantity

Question 4

Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown below.   What is Paasche's price index?

Accepted Answer

A)  116.45 
B)  116.71 
C)  116.67 
D)  131.56 
A)  116.45 
B)  116.71 
C)  116.67 
D)  131.56

Question 5

What do we call a percent that measures the change in price, quantity, value or some other item of interest from one time period to another? ______________________

Accepted Answer

The answer of What do we call a percent that...

Question 6

An index of clothing prices for 2006 based on 1985 is to be constructed. The prices for 1985 and 2006 and the quantity consumed in 1985 are shown below.   Assuming that the number sold remained constant, i.e., the same number were sold in 2006 as in 1985, what is the weighted index of price for 2006 using 1985 as the base?

Accepted Answer

A)  206.7 
B)  214.5 
C)  48.4 
D)  46.6 
A)  206.7 
B)  214.5 
C)  48.4 
D)  46.6

Question 7

The following data was collected comparing car prices and quantity sold (thousands).   Compute value index to compare car prices in 2010 to 2000.

Accepted Answer

The answer of The following data was collected comparing car...

Question 8

The Consumer Price Index measures the change in prices of a fixed market basket of goods and services from one period to another.

Accepted Answer

A) True 
 B)False

Question 9

What is a major disadvantage of the unweighted price index? ______________________________

Accepted Answer

extremely large or s

Question 10

If the Consumer Price Index in June 2006 was about 202.9 (1982-84 = 100), what was the purchasing power of the dollar?

Accepted Answer

A)  $1.00 
B)  $0.33 
C)  $0.58 
D)  $0.49 
A)  $1.00 
B)  $0.33 
C)  $0.58 
D)  $0.49

Question 11

How is the purchasing power of the dollar computed?

Accepted Answer

A)  ($1/CPI) (100) 
B)  ($1 - CPI) (100) 
C)  ($1 x CPI) (100) 
D)  (CPI/$1) (100) 
A)  ($1/CPI) (100) 
B)  ($1 - CPI) (100) 
C)  ($1 x CPI) (100) 
D)  (CPI/$1) (100)

Question 12

The Consumer Price Index (1982-84 = 100) reports a CPI in August 2010 for Energy as 212.372. What is the percentage change in the price of energy compared to the base?

Accepted Answer

Increased

Question 13

Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown below.   What is the simple price relative for tomatoes?

Accepted Answer

The answer of Data for selected fruits purchased at wholesale...

Question 14

The following data was collected on mutual fund prices.   Compute a simple aggregate index comparing mutual fund prices in 2010 to mutual fund prices in 2000.

Accepted Answer

The answer of The following data was collected on mutual...

Question 15

What is another term for real income? _______________

Accepted Answer

The answer of What is another term for real income?...

Question 16

Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown below.   What is your interpretation of Laspeyres' price index?

Accepted Answer

A)  Prices rose 98.4% 
B)  Prices declined 1.6% 
C)  Prices rose 7.0% 
D)  Prices rose 8.0% 
A)  Prices rose 98.4% 
B)  Prices declined 1.6% 
C)  Prices rose 7.0% 
D)  Prices rose 8.0%

Question 17

What is the base year for the Consumer Price Index? _______

Accepted Answer

The answer of What is the base year for the...

Question 18

The Dow Jones Industrial Index is a ____________________.

Accepted Answer

Special pu

Question 19

The 2009 CPI was 214.537 (1982-84=100). What is the purchasing power of the dollar relative to the base?

Accepted Answer

The answer of The 2009 CPI was 214.537 (1982-84=100). What...

Question 20

Suppose your annual 2001 salary was $40,000 and your 2006 salary was $52,000. Assume the annual CPI rose from 177.1 to 202.9 during this period of time.
What was your real income in 2001? _______

Accepted Answer

The answer of Suppose your annual 2001 salary was $40,000...

An example of a weighted index is P = p_t/p_0.

Suppose your annual 2005 salary was $95,000 and your 2010 salary was $125,000. Assume the annual CPI rose from 177.1 to 215.9 during this period of time. What was your real income in 2010? _______

In a weighted index, what variable is usually the weight? ________________________

Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown below. What is Paasche's price index?

What do we call a percent that measures the change in price, quantity, value or some other item of interest from one time period to another? ______________________

The following data was collected comparing car prices and quantity sold (thousands). Compute value index to compare car prices in 2010 to 2000.

The Consumer Price Index measures the change in prices of a fixed market basket of goods and services from one period to another.

What is a major disadvantage of the unweighted price index? ______________________________

If the Consumer Price Index in June 2006 was about 202.9 (1982-84 = 100), what was the purchasing power of the dollar?

How is the purchasing power of the dollar computed?

The Consumer Price Index (1982-84 = 100) reports a CPI in August 2010 for Energy as 212.372. What is the percentage change in the price of energy compared to the base?

Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown below. What is the simple price relative for tomatoes?

The following data was collected on mutual fund prices. Compute a simple aggregate index comparing mutual fund prices in 2010 to mutual fund prices in 2000.

What is another term for real income? _______________

Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown below. What is your interpretation of Laspeyres' price index?

What is the base year for the Consumer Price Index? _______

The Dow Jones Industrial Index is a ____________________.

The 2009 CPI was 214.537 (1982-84=100). What is the purchasing power of the dollar relative to the base?

Suppose your annual 2001 salary was $40,000 and your 2006 salary was $52,000. Assume the annual CPI rose from 177.1 to 202.9 during this period of time. What was your real income in 2001? _______

What Is Statistics

Describing Data: Frequency Tables, Frequency Distributions, and Graphic Presentation

Describing Data: Numerical Measures

Describing Data: Displaying and Exploring Data

A Survey of Probability Concepts

Discrete Probability Distributions

Continuous Probability Distributions

Sampling Methods and the Central Limit Theorem

Estimation and Confidence Intervals

One-Sample Tests of Hypothesis

Two-Sample Tests of Hypothesis

Analysis of Variance

Correlation and Linear Regression

Multiple Regression Analysis

Time Series and Forecasting

Nonparametric Methods: Goodness-Of-Fit Tests

Nonparametric Methods: Analysis of Ranked Data

Statistical Process Control and Quality Management

An Introduction to Decision Theory

Filters

Exam 15: Index Numbers

An example of a weighted index is P = pt/p0.

Suppose your annual 2005 salary was $95,000 and your 2010 salary was $125,000. Assume the annual CPI rose from 177.1 to 215.9 during this period of time. What was your real income in 2010? _______

In a weighted index, what variable is usually the weight? ________________________

Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown below. What is Paasche's price index?

What do we call a percent that measures the change in price, quantity, value or some other item of interest from one time period to another? ______________________

The following data was collected comparing car prices and quantity sold (thousands). Compute value index to compare car prices in 2010 to 2000.

The Consumer Price Index measures the change in prices of a fixed market basket of goods and services from one period to another.

What is a major disadvantage of the unweighted price index? ______________________________

If the Consumer Price Index in June 2006 was about 202.9 (1982-84 = 100), what was the purchasing power of the dollar?

How is the purchasing power of the dollar computed?

The Consumer Price Index (1982-84 = 100) reports a CPI in August 2010 for Energy as 212.372. What is the percentage change in the price of energy compared to the base?

Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown below. What is the simple price relative for tomatoes?

The following data was collected on mutual fund prices. Compute a simple aggregate index comparing mutual fund prices in 2010 to mutual fund prices in 2000.

What is another term for real income? _______________

Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown below. What is your interpretation of Laspeyres' price index?

What is the base year for the Consumer Price Index? _______

The Dow Jones Industrial Index is a ____________________.

The 2009 CPI was 214.537 (1982-84=100). What is the purchasing power of the dollar relative to the base?

Suppose your annual 2001 salary was $40,000 and your 2006 salary was $52,000. Assume the annual CPI rose from 177.1 to 202.9 during this period of time. What was your real income in 2001? _______

What Is Statistics

Describing Data: Frequency Tables, Frequency Distributions, and Graphic Presentation

Describing Data: Numerical Measures

Describing Data: Displaying and Exploring Data

A Survey of Probability Concepts

Discrete Probability Distributions

Continuous Probability Distributions

Sampling Methods and the Central Limit Theorem

Estimation and Confidence Intervals

One-Sample Tests of Hypothesis

Two-Sample Tests of Hypothesis

Analysis of Variance

Correlation and Linear Regression

Multiple Regression Analysis

Time Series and Forecasting

Nonparametric Methods: Goodness-Of-Fit Tests

Nonparametric Methods: Analysis of Ranked Data

Statistical Process Control and Quality Management

An Introduction to Decision Theory

Filters

An example of a weighted index is P = p_t/p_0.