Question 1

Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown below.   What is Paasche's 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 2

The CPI for "personal computers and peripheral equipment" in June 2006 was 10.7 (1982-1984 = 100). Interpret this index.

Accepted Answer

A)  There was no significant increase in the price of "personal computers and peripheral equipment" 
B)  The price of "personal computers and peripheral equipment" increased 10.7%. 
C)  The price of "personal computers and peripheral equipment" decreased 89.3%. 
D)  If the average price of a computer in 1982-1984 was $3000.00, the CPI for "personal computers and peripheral equipment" would predict that the price of a computer in June 2006 would be $893. 
A)  There was no significant increase in the price of "personal computers and peripheral equipment" 
B)  The price of "personal computers and peripheral equipment" increased 10.7%. 
C)  The price of "personal computers and peripheral equipment" decreased 89.3%. 
D)  If the average price of a computer in 1982-1984 was $3000.00, the CPI for "personal computers and peripheral equipment" would predict that the price of a computer in June 2006 would be $893.

Question 3

The wholesale price of a straight back desk chair in 2004 was $70; in 2005, $80.50; and in 2006, $63. What were the indexes for 2005 and 2006 using 2004 = 100?

Accepted Answer

A)  115.0 and 90.0 
B)  1.15 and 0.9 
C)  1150.0 and 900.0 
D)  87.0 and 111.1 
A)  115.0 and 90.0 
B)  1.15 and 0.9 
C)  1150.0 and 900.0 
D)  87.0 and 111.1

Question 4

The following data was collected on mutual fund prices.   Compute the Paasche price index to compare mutual fund prices in 2010 to 2000.

Accepted Answer

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

Question 5

What is the symbol used to designate a base period price? _______

Accepted Answer

The answer of What is the symbol used to designate...

Question 6

The following data was collected comparing gasoline prices and quantities (millions of gallons).   Compute a value index to compare gas prices in 2010 to 2000.

Accepted Answer

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

Question 7

The following data was collected comparing gasoline prices and quantities (millions of gallons).   Compute the Paasche price index to compare gas prices in 2010 to 2000.

Accepted Answer

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

Question 8

The following data was collected comparing gasoline prices and quantities (millions of gallons).   Compute the Laspeyres price index to compare gas prices in 2010 to 2000.

Accepted Answer

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

Question 9

The Consumer Price Index (1982-84 = 100) reports a CPI in August 2010 for Rent of Shelter as 239.115. What is the percentage change in the price of Rent of Shelter compared to the base?

Accepted Answer

Increased

Question 10

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

Accepted Answer

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

Question 11

The following data was collected on mutual fund prices.   Compute value index to compare mutual fund prices in 2010 to 2000.

Accepted Answer

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

Question 12

In 2000, an executive earned $100,000. In 2010, the executive earned $125,000. The CPI in 2000 was 172.2; the CPI in 2009 was 214.537. Using the CPI base, 1982-1984 = 100, what was the real income in 2000?

Accepted Answer

The answer of In 2000, an executive earned $100,000. In...

Question 13

Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown below.   What is the unweighted aggregate 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

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

Accepted Answer

A)  Value rose 16.67% 
B)  Value rose 35.56% 
C)  Value rose 16.71% 
D)  Value rose 16.45% 
A)  Value rose 16.67% 
B)  Value rose 35.56% 
C)  Value rose 16.71% 
D)  Value rose 16.45%

Question 15

What is the purpose of an index?

Accepted Answer

The purpose of an index is to

Question 16

The Laspeyres method computes a weighted index.

Accepted Answer

A) True 
 B)False

Question 17

The S&P 500 is a _______________________.

Accepted Answer

Special pu

Question 18

Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown below.   What is the interpretation of the value index?

Accepted Answer

A)  Value rose 28.8% 
B)  Value rose 15.6% 
C)  Value rose 17.5% 
D)  Value rose 20.0% 
A)  Value rose 28.8% 
B)  Value rose 15.6% 
C)  Value rose 17.5% 
D)  Value rose 20.0%

Question 19

The CPI for "educational books and supplies" in June of 2006 was 386.7 (1982-1984 = 100). Interpret this index.

Accepted Answer

A)  There was no significant increase in the price of "educational books and supplies". 
B)  The price of "educational books and supplies" increased 386.7 times. 
C)  If the average price of a textbook in 1982-1984 was $25.00, the CPI for "educational books and supplies" would predict that the price of the textbook in June 2006 would be $71.68. 
D)  If the average price of a textbook in 1982-1984 was $25.00, the CPI for "educational books and supplies" would predict that the price of the textbook in June 2006 would be $96.68. 
A)  There was no significant increase in the price of "educational books and supplies". 
B)  The price of "educational books and supplies" increased 386.7 times. 
C)  If the average price of a textbook in 1982-1984 was $25.00, the CPI for "educational books and supplies" would predict that the price of the textbook in June 2006 would be $71.68. 
D)  If the average price of a textbook in 1982-1984 was $25.00, the CPI for "educational books and supplies" would predict that the price of the textbook in June 2006 would be $96.68.

Question 20

The take home pay of an employee working in an urban area for 1993 and 2007 are:   If the CPI rose from 159 in 1993 to 210 in 2007 (1982-84 = 100), what was the "real" take home pay of the employee in 2007?

Accepted Answer

A)  $5,000 
B)  $15,000 
C)  $113,200 
D)  $53,904 
A)  $5,000 
B)  $15,000 
C)  $113,200 
D)  $53,904

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

The CPI for "personal computers and peripheral equipment" in June 2006 was 10.7 (1982-1984 = 100). Interpret this index.

The wholesale price of a straight back desk chair in 2004 was $70; in 2005, $80.50; and in 2006, $63. What were the indexes for 2005 and 2006 using 2004 = 100?

The following data was collected on mutual fund prices. Compute the Paasche price index to compare mutual fund prices in 2010 to 2000.

What is the symbol used to designate a base period price? _______

The following data was collected comparing gasoline prices and quantities (millions of gallons). Compute a value index to compare gas prices in 2010 to 2000.

The following data was collected comparing gasoline prices and quantities (millions of gallons). Compute the Paasche price index to compare gas prices in 2010 to 2000.

The following data was collected comparing gasoline prices and quantities (millions of gallons). Compute the Laspeyres price index to compare gas prices in 2010 to 2000.

The Consumer Price Index (1982-84 = 100) reports a CPI in August 2010 for Rent of Shelter as 239.115. What is the percentage change in the price of Rent of Shelter 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 bananas?

The following data was collected on mutual fund prices. Compute value index to compare mutual fund prices in 2010 to 2000.

In 2000, an executive earned $100,000. In 2010, the executive earned $125,000. The CPI in 2000 was 172.2; the CPI in 2009 was 214.537. Using the CPI base, 1982-1984 = 100, what was the real income in 2000?

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

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

What is the purpose of an index?

The Laspeyres method computes a weighted index.

The S&P 500 is a _______________________.

Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown below. What is the interpretation of the value index?

The CPI for "educational books and supplies" in June of 2006 was 386.7 (1982-1984 = 100). Interpret this index.

The take home pay of an employee working in an urban area for 1993 and 2007 are: If the CPI rose from 159 in 1993 to 210 in 2007 (1982-84 = 100), what was the "real" take home pay of the employee in 2007?

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 fruits purchased at wholesale prices for 2005 and 2009 are shown below. What is Paasche's price index?

The CPI for "personal computers and peripheral equipment" in June 2006 was 10.7 (1982-1984 = 100). Interpret this index.

The wholesale price of a straight back desk chair in 2004 was $70; in 2005, $80.50; and in 2006, $63. What were the indexes for 2005 and 2006 using 2004 = 100?

The following data was collected on mutual fund prices. Compute the Paasche price index to compare mutual fund prices in 2010 to 2000.

What is the symbol used to designate a base period price? _______

The following data was collected comparing gasoline prices and quantities (millions of gallons). Compute a value index to compare gas prices in 2010 to 2000.

The following data was collected comparing gasoline prices and quantities (millions of gallons). Compute the Paasche price index to compare gas prices in 2010 to 2000.

The following data was collected comparing gasoline prices and quantities (millions of gallons). Compute the Laspeyres price index to compare gas prices in 2010 to 2000.

The Consumer Price Index (1982-84 = 100) reports a CPI in August 2010 for Rent of Shelter as 239.115. What is the percentage change in the price of Rent of Shelter 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 bananas?

The following data was collected on mutual fund prices. Compute value index to compare mutual fund prices in 2010 to 2000.

In 2000, an executive earned $100,000. In 2010, the executive earned $125,000. The CPI in 2000 was 172.2; the CPI in 2009 was 214.537. Using the CPI base, 1982-1984 = 100, what was the real income in 2000?

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

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

What is the purpose of an index?

The Laspeyres method computes a weighted index.

The S&P 500 is a _______________________.

Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown below. What is the interpretation of the value index?

The CPI for "educational books and supplies" in June of 2006 was 386.7 (1982-1984 = 100). Interpret this index.

The take home pay of an employee working in an urban area for 1993 and 2007 are: If the CPI rose from 159 in 1993 to 210 in 2007 (1982-84 = 100), what was the "real" take home pay of the employee in 2007?

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