Question 1

In terms of a weighted index, what alternatives to weighting are available?

Accepted Answer

There are three alternatives. The quanti

Question 2

The Consumer Price Index in June 2006 was 159.3 (1982-84 = 100). What does this indicate about prices from 1982-84 to June 2006?

Accepted Answer

A)  Rose 59.3% 
B)  Rose 100.0% 
C)  Rose 159.3% 
D)  Declined 159.3% 
A)  Rose 59.3% 
B)  Rose 100.0% 
C)  Rose 159.3% 
D)  Declined 159.3%

Question 3

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 the purchasing power of the dollar in 2005? _______

Accepted Answer

The answer of Suppose your annual 2005 salary was $95,000...

Question 4

All indexes have the same base, namely 1982-84, written 1982-84 = 100.

Accepted Answer

A) True 
 B)False

Question 5

The number of items produced and the price per item for the Duffy Manufacturing Company are:   What is the value index of production for 2006 using 1990 as the base period?

Accepted Answer

A)  115.2 
B)  72.9 
C)  110.6 
D)  127.1 
A)  115.2 
B)  72.9 
C)  110.6 
D)  127.1

Question 6

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 2009?

Accepted Answer

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

Question 7

What is an index for a single commodity called? __________

Accepted Answer

The answer of What is an index for a single...

Question 8

A value index method computes a simple aggregate index.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

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

Question 10

Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown below.   What is the interpretation of the value index?

Accepted Answer

A)  Value rose 9.4% 
B)  Value rose 79.1% 
C)  Value rose 12.7% 
D)  Value rose 12.0% 
A)  Value rose 9.4% 
B)  Value rose 79.1% 
C)  Value rose 12.7% 
D)  Value rose 12.0%

Question 11

How can indexes be classified?

Accepted Answer

A)  Price 
B)  Quantity 
C)  Value 
D)  Weighted or unweighted 
A)  Price 
B)  Quantity 
C)  Value 
D)  Weighted or unweighted

Question 12

Sean McCarthy earns $20,000 a year; John Nowak, $35,000. What is John's income as an index using Sean's income as the base?

Accepted Answer

A)  175.0 
B)  75.0 
C)  100.0 
D)  57.1 
A)  175.0 
B)  75.0 
C)  100.0 
D)  57.1

Question 13

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

Accepted Answer

A)  110.3 
B)  115.6 
C)  108.0 
D)  118.5 
A)  110.3 
B)  115.6 
C)  108.0 
D)  118.5

Question 14

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 the purchasing power of the dollar in 2010? _______

Accepted Answer

The answer of Suppose your annual 2005 salary was $95,000...

Question 15

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

Accepted Answer

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

Question 16

An index number is a percent that measures the change in price, quantity, or value, compared to a base period.

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

A)  Value rose 9.4% 
B)  Value rose 79.1% 
C)  Value rose 12.7% 
D)  Value rose 12.0% 
A)  Value rose 9.4% 
B)  Value rose 79.1% 
C)  Value rose 12.7% 
D)  Value rose 12.0%

Question 18

Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown below.   What is the unweighted aggregate 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 19

The Bureau of the Census reported that the farm population dropped from 30.5 million in 1940 to 6.5 million in 1999. What is the index for 1999 based on 1940?

Accepted Answer

A)  469.7 
B)  100.0 
C)  21.3 
D)  78.7 
A)  469.7 
B)  100.0 
C)  21.3 
D)  78.7

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. In which year was your "real" income larger? ________

Accepted Answer

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

In terms of a weighted index, what alternatives to weighting are available?

The Consumer Price Index in June 2006 was 159.3 (1982-84 = 100). What does this indicate about prices from 1982-84 to June 2006?

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 the purchasing power of the dollar in 2005? _______

All indexes have the same base, namely 1982-84, written 1982-84 = 100.

The number of items produced and the price per item for the Duffy Manufacturing Company are: What is the value index of production for 2006 using 1990 as the base period?

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 2009?

What is an index for a single commodity called? __________

A value index method computes a simple aggregate index.

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

Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown below. What is the interpretation of the value index?

How can indexes be classified?

Sean McCarthy earns $20,000 a year; John Nowak, $35,000. What is John's income as an index using Sean's income as the base?

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

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 the purchasing power of the dollar in 2010? _______

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

An index number is a percent that measures the change in price, quantity, or value, compared to a base period.

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

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

The Bureau of the Census reported that the farm population dropped from 30.5 million in 1940 to 6.5 million in 1999. What is the index for 1999 based on 1940?

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. In which year was your "real" income larger? ________

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

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Exam 15: Index Numbers

In terms of a weighted index, what alternatives to weighting are available?

The Consumer Price Index in June 2006 was 159.3 (1982-84 = 100). What does this indicate about prices from 1982-84 to June 2006?

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 the purchasing power of the dollar in 2005? _______

All indexes have the same base, namely 1982-84, written 1982-84 = 100.

The number of items produced and the price per item for the Duffy Manufacturing Company are: What is the value index of production for 2006 using 1990 as the base period?

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 2009?

What is an index for a single commodity called? __________

A value index method computes a simple aggregate index.

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

Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown below. What is the interpretation of the value index?

How can indexes be classified?

Sean McCarthy earns $20,000 a year; John Nowak, $35,000. What is John's income as an index using Sean's income as the base?

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

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 the purchasing power of the dollar in 2010? _______

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

An index number is a percent that measures the change in price, quantity, or value, compared to a base period.

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

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

The Bureau of the Census reported that the farm population dropped from 30.5 million in 1940 to 6.5 million in 1999. What is the index for 1999 based on 1940?

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. In which year was your "real" income larger? ________

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