Questions from Business Statistics

Q: In 2017, Google’s revenue broke $100 billion for the first

In 2017, Google’s revenue broke $100 billion for the first time. The revenue for Google for the years 2010–2017 is shown in the following table (Statista website)....

Q: Data on quantities of three items sold in Year 1 and Year

Data on quantities of three items sold in Year 1 and Year 5 are given here along with the sales prices of the items in Year 1. Compute a weighted aggregate quantity index for Year 5.

Q: Heartland Express handles four commodities for a particular distributor. Total shipments

Heartland Express handles four commodities for a particular distributor. Total shipments for the commodities in the years 2000 and 2015, as well as the prices in the year 2000, are reported in the fol...

Q: An automobile dealer reports the Year 1 and Year 8 sales for

An automobile dealer reports the Year 1 and Year 8 sales for three models in the following table. Compute quantity relatives and use them to develop a weighted aggregate quantity index for Year 8 usin...

Q: An item with a price relative of 132 cost $10.

An item with a price relative of 132 cost $10.75 in 2018. Its base year was 2001. a. What was the percentage increase or decrease in cost of the item over the 17-year period? b. What did the item cost...

Q: Suppose the project director for the Hilltop Coffee study (see Section

Suppose the project director for the Hilltop Coffee study (see Section 9.3) asked for a .10 probability of claiming that Hilltop was not in violation when it really was underfilling by 1 ounce (µa = 2...

Q: Fastenal, the largest fastener distributor in North America, procures an

Fastenal, the largest fastener distributor in North America, procures an identical drive anchor from three independent suppliers that differ in unit price and quantity supplied. The relevant data for...

Q: Under the last-in, first-out (LIFO)

Under the last-in, first-out (LIFO) inventory valuation method, a price index for inventory must be established for tax purposes. The quantity weights are based on year-ending inventory levels. Use th...

Q: R&B Beverages, Inc., provides a complete line of

R&B Beverages, Inc., provides a complete line of beer, wine, and soft drink products for distribution through retail outlets in central Iowa. Unit price data for 2015 and 2018 and quantities sold...

Q: Price relatives for three items, along with base-period prices

Price relatives for three items, along with base-period prices and usage, are shown in the following table. Compute a weighted aggregate price index for the current period.