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Category > Statistics Posted 24 May 2017 My Price 12.00

Determine a relative index for each type of advertisement using year 1 as the base year

16-8. Consider the following median selling prices ($thousands) for homes in a community:

 

 

a.     Determine a relative index for each type of advertisement using year 1 as the base year.

b.    Determine an unweighted aggregate index for the two types of advertisement.

c.     In year 1 the retailer spent 30% of the advertisement budget on radio advertising. Construct a Laspeyres index for the data.

d.    Using year 1 as the base, construct a Paasche index for the same data.

 

Business Applications

Problems 16-10 through 16-13 refer to Gallup Construc- tion and Paving, a company whose primary business has been constructing homes in planned communities in the upper Midwest. The company has kept a record of the relative cost of labor and materials in its market areas for the last 11 years. These data are as follows:

Year

Price

1

320

2

334

3

329

4

344

5

358

6

347

7

383

8

404

9

397

 

 

1999

30.10

66,500

2000

30.50

68,900

2001

31.70

70,600

2002

32.50

70,900

2003

34.00

71,200

2004

35.50

71,700

2005

35.10

72,500

2006

35.05

73,700

2007

34.90

73,400

2008

33.80

74,100

 

 

   Year       Hourly Wages ($)    Average Material Cost ($)                 

 

  10              411   

 

a.     Use year 1 as a base year and construct a simple index number to show how the median selling price has increased.

 

 

 

 

   2009                   34.20                                74,000                  

 

CHAPTER 16  | Analyzing and Forecasting Time-Series Data                                                                                                          723

 

 

 

 

Answers

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Status NEW Posted 24 May 2017 11:05 AM My Price 12.00

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file 1495627240-1433175_1_636311236333318489_1433175.docx preview (193 words )
1-----------) -----------a) ----------- ----------- b-----------) ----------- c-----------) ----------- d-----------) ----------- ----------- 2)----------- L-----------et -----------bas-----------e b-----------e y-----------ear----------- 1 -----------= 1-----------00 ----------- Ar-----------ran-----------ge -----------dat-----------a i-----------n i-----------ncr-----------eas-----------ing----------- or-----------der-----------: -----------320----------- 3-----------29 ----------- 33-----------4 -----------344----------- 3-----------47 ----------- 35-----------8 -----------383----------- 3-----------97 ----------- 40-----------4 -----------411----------- N-----------ow -----------med-----------ian----------- is----------- (3-----------47 -----------+ 3-----------58)-----------/2 -----------= 3-----------52.-----------5 -----------BAs-----------e i-----------nde-----------x +----------- [ -----------(Ye-----------arn----------- ------------ Ye-----------ar1-----------)/(-----------Yea-----------r1)----------- * -----------100----------- ] ----------- = -----------100----------- + -----------[ (-----------352-----------.5 ------------ 3-----------20)-----------/32-----------0 *----------- 10-----------0 ]----------- =Â----------- 11-----------0.1-----------562-----------5 -----------For----------- si-----------mpl-----------e y-----------ear----------- ca-----------lcu-----------lat-----------ion-----------s: ----------- Ye-----------ar -----------Pri-----------ce -----------1 3-----------20 -----------100----------- 2----------- 33-----------4 1-----------04.-----------375----------- 3----------- 32-----------9 1-----------02.-----------812-----------5 -----------4 3-----------44 -----------107-----------.5 ----------- 5 -----------358----------- 11-----------1.8-----------75 ----------- 6 -----------347----------- 10-----------8.4-----------375----------- 7----------- 38-----------3 1-----------19.-----------687-----------5 -----------8 4-----------04 -----------126-----------.25-----------
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