7/28/2019 Statistics for Economics and Business Tutorial 4
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Statistics for Economics and Business Tutorial
Lecturer: Dewi Ratna Sjari
Tutor: Venty | [email protected]
Date: Sept, 25 2013
1. Fruit prices and the amounts consumed for 2005 and 2010 are
below. Use 2000 as thebase.
Fruits 2005 2010
Price ($) Quantity Price ($) Quantity
Bananas 0.23 100 0.35 120
Grapefruit 0.29 50 0.27 55
Apples 0.35 85 0.35 85
Strawberries 1.02 8 1.40 10
Oranges 0.89 6 0.99 8
a. Determine Laspeyres price index.b. Determine the Paasche
price indexc. Determine Fishers ideal index.
2. The average hourly earnings of production workers for
September of selected years aregiven below.
a. Using 2000 as the base period and 100 as the base value,
determine the indexes forthe other years.
b. Use the average of 2000, 2005 and 2008 as the base and
determine indexes for theother years.
Year Average Hourly Earnings
2000 $11.47
2005 $13.73
2008 $15.19
2010 $15.88
2011 $16.40
