Question 1

Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown below.   What is the Fisher Ideal Index?

Accepted Answer

A)  116.69 
B)  179.08 
C)  111.97 
D)  109.36 
A)  116.69 
B)  179.08 
C)  111.97 
D)  109.36

Question 2

Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown below.   What is the value 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 3

Which method of computing index numbers has the disadvantage that the base period quantities or weights are realistic? _____________________

Accepted Answer

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

Question 4

Real income is computed by

Accepted Answer

A)  Dividing money income by the CPI and multiplying by 100. 
B)  Dividing the CPI by money income and multiplying by 100. 
C)  Multiplying money income by the CPI. 
D)  Subtracting the CPI from money income. 
A)  Dividing money income by the CPI and multiplying by 100. 
B)  Dividing the CPI by money income and multiplying by 100. 
C)  Multiplying money income by the CPI. 
D)  Subtracting the CPI from money income.

Question 5

The Consumer Price Index (1982-84 = 100) reports a CPI in August 2010 for new and used motor vehicles as 97.620. What is the percentage change in the price of new and used motor vehicle compared to the base?

Accepted Answer

Decreased

Question 6

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...

Question 7

Which index measures the change in the prices of a fixed market basket of goods and services from one time period to another? ___________

Accepted Answer

Consumer P

Question 8

If we divide one dollar by the CPI and multiply this result by 100, what is the result called? _________________________

Accepted Answer

purchasing

Question 9

What does a typical market basket of goods and services include?

Accepted Answer

A)  Bread 
B)  Beer 
C)  Milk 
D)  All of the above 
A)  Bread 
B)  Beer 
C)  Milk 
D)  All of the above

Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown below. What is the Fisher Ideal Index?

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

Which method of computing index numbers has the disadvantage that the base period quantities or weights are realistic? _____________________

Real income is computed by

The Consumer Price Index (1982-84 = 100) reports a CPI in August 2010 for new and used motor vehicles as 97.620. What is the percentage change in the price of new and used motor vehicle compared 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. In which year was your "real" income larger? ________

Which index measures the change in the prices of a fixed market basket of goods and services from one time period to another? ___________

If we divide one dollar by the CPI and multiply this result by 100, what is the result called? _________________________

What does a typical market basket of goods and services include?

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

Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown below. What is the Fisher Ideal Index?

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

Which method of computing index numbers has the disadvantage that the base period quantities or weights are realistic? _____________________

Real income is computed by

The Consumer Price Index (1982-84 = 100) reports a CPI in August 2010 for new and used motor vehicles as 97.620. What is the percentage change in the price of new and used motor vehicle compared 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. In which year was your "real" income larger? ________

Which index measures the change in the prices of a fixed market basket of goods and services from one time period to another? ___________

If we divide one dollar by the CPI and multiply this result by 100, what is the result called? _________________________

What does a typical market basket of goods and services include?

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