Question 1

Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown below.   What is the simple price relative for carrots?

Accepted Answer

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

Question 2

Besides measuring change in the prices of goods and services, the consumer price index has a number of other applications such as:

Accepted Answer

A)  To determine real disposable personal income 
B)  To deflate sales or other data series 
C)  To find the purchasing power of the dollar 
D)  All of the above. 
A)  To determine real disposable personal income 
B)  To deflate sales or other data series 
C)  To find the purchasing power of the dollar 
D)  All of the above.

Question 3

The Laspeyres' method uses the amounts consumed in the base period, q0, as weights to determine a price index.

Accepted Answer

A) True 
 B)False

Question 4

What is the index that measures the average change in prices received in the primary markets of the United States by producers of commodities? _________________________________

Accepted Answer

producers

Question 5

What is the purpose of an index? _____________________________________

Accepted Answer

the purpose of an in

Question 6

What is the usual index number associated with the base period for the CPI? ______

Accepted Answer

The answer of What is the usual index number associated...

Question 7

Below is Jim Walker's income for 1995 and 2007.   What was Jim's real income for 2007?

Accepted Answer

A)  $37,000 
B)  $67,000 
C)  $34,387 
D)  $38,908 
A)  $37,000 
B)  $67,000 
C)  $34,387 
D)  $38,908

Question 8

Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown below.   What is Paasche's price index?

Accepted Answer

A)  98.4 
B)  107.0 
C)  108.0 
D)  117.5 
A)  98.4 
B)  107.0 
C)  108.0 
D)  117.5

Question 9

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

Accepted Answer

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

Question 10

Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown below.   What is Laspeyres' price index?

Accepted Answer

A)  112.70 
B)  179.08 
C)  111.97 
D)  109.36 
A)  112.70 
B)  179.08 
C)  111.97 
D)  109.36

Question 11

Which method of computing index numbers has the advantage that the consumption pattern is always up-to-date? _____________________

Accepted Answer

The answer of Which method of computing index numbers has...

Question 12

One function of the CPI is to allow consumers to determine the degree to which their purchasing power is being eroded by price increases.

Accepted Answer

A) True 
 B)False

Question 13

Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown below.   What is Laspeyres' 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 14

The 2001 CPI was 171.1 (1982-84=100). What is the purchasing power of the dollar relative to the base?

Accepted Answer

The answer of The 2001 CPI was 171.1 (1982-84=100). What...

Question 15

The index that combines the advantages of two popular weighted indices is called ____________________?

Accepted Answer

Fisher's i

Question 16

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

Accepted Answer

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

Question 17

A simple aggregate index compares the sum of values in the current period to the sum of values in a base period.

Accepted Answer

A) True 
 B)False

Question 18

Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown below.   What is the Fisher Ideal Index?

Accepted Answer

A)  112.33 
B)  179.08 
C)  111.97 
D)  109.36 
A)  112.33 
B)  179.08 
C)  111.97 
D)  109.36

Question 19

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

Accepted Answer

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

Question 20

Two methods of computing a weighted price index are the Laspeyres' method and Paasche's method.

Accepted Answer

A) True 
 B)False

Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown below. What is the simple price relative for carrots?

Besides measuring change in the prices of goods and services, the consumer price index has a number of other applications such as:

The Laspeyres' method uses the amounts consumed in the base period, q₀, as weights to determine a price index.

What is the index that measures the average change in prices received in the primary markets of the United States by producers of commodities? _________________________________

What is the purpose of an index? _____________________________________

What is the usual index number associated with the base period for the CPI? ______

Below is Jim Walker's income for 1995 and 2007. What was Jim's real income for 2007?

Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown below. What is Paasche's price index?

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

Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown below. What is Laspeyres' price index?

Which method of computing index numbers has the advantage that the consumption pattern is always up-to-date? _____________________

One function of the CPI is to allow consumers to determine the degree to which their purchasing power is being eroded by price increases.

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

The 2001 CPI was 171.1 (1982-84=100). What is the purchasing power of the dollar relative to the base?

The index that combines the advantages of two popular weighted indices is called ____________________?

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

A simple aggregate index compares the sum of values in the current period to the sum of values in a base period.

Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown below. What is the Fisher Ideal Index?

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

Two methods of computing a weighted price index are the Laspeyres' method and Paasche's method.

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

Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown below. What is the simple price relative for carrots?

Besides measuring change in the prices of goods and services, the consumer price index has a number of other applications such as:

The Laspeyres' method uses the amounts consumed in the base period, q0, as weights to determine a price index.

What is the index that measures the average change in prices received in the primary markets of the United States by producers of commodities? _________________________________

What is the purpose of an index? _____________________________________

What is the usual index number associated with the base period for the CPI? ______

Below is Jim Walker's income for 1995 and 2007. What was Jim's real income for 2007?

Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown below. What is Paasche's price index?

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

Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown below. What is Laspeyres' price index?

Which method of computing index numbers has the advantage that the consumption pattern is always up-to-date? _____________________

One function of the CPI is to allow consumers to determine the degree to which their purchasing power is being eroded by price increases.

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

The 2001 CPI was 171.1 (1982-84=100). What is the purchasing power of the dollar relative to the base?

The index that combines the advantages of two popular weighted indices is called ____________________?

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

A simple aggregate index compares the sum of values in the current period to the sum of values in a base period.

Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown below. What is the Fisher Ideal Index?

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

Two methods of computing a weighted price index are the Laspeyres' method and Paasche's method.

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

The Laspeyres' method uses the amounts consumed in the base period, q₀, as weights to determine a price index.