Question 1

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 2

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

Accepted Answer

fisher's i

Question 3

Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown next.   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 4

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

Accepted Answer

126.67
Explanation: Use formul

Question 5

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

Accepted Answer

$0.47
Expl

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

2006
Explanation: Calculate th

Question 7

If the Laspeyres index is 135.41 and the Paasche index is 145.34, what is Fisher's ideal index?

Accepted Answer

140.29
Explanation: Use formul

Question 8

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 9

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 10

Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown next.   What is the 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 11

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 the purchasing power of the dollar in 2006?

Accepted Answer

$0.493
Explanation: The purcha

Question 12

Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown next.   What is your interpretation of the 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 13

An index of 239.2 represents a 239.2% change.

Accepted Answer

A) True 
 B)False

Question 14

Most indexes have a _____________ and a ______________ in common.

Accepted Answer

base perio

Question 15

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

Accepted Answer

118.46
Exp

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

The following data was collected comparing gasoline prices.   Compute a simple aggregate index comparing gas prices in 2010 to gas prices in 2000.

Accepted Answer

121.32
Explanation: Use formul

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?

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 next. What is the interpretation of the value index?

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

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

If the Laspeyres index is 135.41 and the Paasche index is 145.34, what is Fisher's ideal index?

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?

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?

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

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 the purchasing power of the dollar in 2006?

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

An index of 239.2 represents a 239.2% change.

Most indexes have a _ and a __ in common.

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

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

The following data was collected comparing gasoline prices. Compute a simple aggregate index comparing gas prices in 2010 to gas prices in 2000.

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

Nonparametric Methods: Nominal Level Hypothesis Tests

Nonparametric Methods: Analysis of Ordinal Data

Time Series and Forecasting

Statistical Process Control and Quality Management

An Introduction to Decision Theory

Filters

Exam 17: Index Numbers

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?

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 next. What is the interpretation of the value index?

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

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

If the Laspeyres index is 135.41 and the Paasche index is 145.34, what is Fisher's ideal index?

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?

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?

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

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 the purchasing power of the dollar in 2006?

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

An index of 239.2 represents a 239.2% change.

Most indexes have a _____________ and a ______________ in common.

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

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

The following data was collected comparing gasoline prices. Compute a simple aggregate index comparing gas prices in 2010 to gas prices in 2000.

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

Nonparametric Methods: Nominal Level Hypothesis Tests

Nonparametric Methods: Analysis of Ordinal Data

Time Series and Forecasting

Statistical Process Control and Quality Management

An Introduction to Decision Theory

Filters

Most indexes have a _ and a __ in common.

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