Evaluate a simple aggregate price index

Reference no: EM1322636

Estimating the simple aggregate price index.

Betts Electronics purchases three replacement parts for robotic machines used in their manufacturing process. Information on the price of the replacement parts and the quantity purchased is given below.

Part	Price 2000 2004		Quantity 2000 2004
RC-33	$0.50	$0.60	320	340
SM-14	$1.20	$0.90	110	130
WC50	$0.85	$1.00	230	250

Compute a simple aggregate price index for 2004. Use 2000 as the base period.

Reference no: EM1322636

Questions Cloud

Show the steps in hypothesis test procedure : Steps in hypothesis test procedure - conducting a hypothesis test for some general statistic, ? say.

Chi-square test for independence of attributes : Chi-square test for independence of attributes - Describe why a x 2 test of the resulting contingency table is appropriate for such an investigation.

Determining the minutes for job : If the initial timing of the person performing that job was 50 minutes, and if you need the job performed 500 times, how many minutes of work will be required?

Standard deviation of the distribution : In a group of six professors selected at random, what is the expected number of extroverts? What is the standard deviation of the distribution?

Evaluate a simple aggregate price index : Evaluate a simple aggregate price index for 2004. Use 2000 as the base period - Estimating the simple aggregate price index.

Mean and standard deviation under binomial distribution : Find the probability and mean and standard deviation for given data under Binomial distribution.

What is the alternative hypothesis : Hypothesis test for one population mean - What is the alternative hypothesis and What is the null hypothesis?

Develop single message for business : Select a small business in your community. Briefly analyze the business's customers or potential customers and develop a single message for the business.

One-time fling by using probability : In a group of seven adult friends, what is the probability that: a) no one has done a one-time fling?

User Account

All Pages