Construct the consumer price index number for 2017 on the basis of 2016 from the following data using family budget method : Items Price in 2016 Price in 2017 Weights Food 200 280 30 Rent 100 200 20 150 -120 20 Clothing Fuel and Lighting 50 100 10 Miscellaneous 100 200 20
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- What is econometrixUse the midpoint method of calculating percentage changes in this question. Heidi used to bake and sell 3 custom cakes each week when the price of cake was $35. Now that the price has increased to $45, she bakes and sells 5 cakes. What was the 'percentage change' in quantity supplied of cakes for Heidi? %. Is this 'percentage change' positive or negative? What was the 'percentage change' in price of cakes? %. Is this 'percentage change' positive or negative? What was Heidi's price elasticity of supply? (round to 2 decimal places] Is this considered 'elastic', 'inelastic', or 'unit elastic'?Economics jj Consider the partial data set in the table represents online hours spent shopping by age and income. Using the min-max transformation to normalize Income, what is the average standard deviation of Income for the chart provided? Use the min-max transformation to normalize the observations for Income spent online. Age ID 2,201 2,202 2,203 2,204 2,205 2,206 Income 57,000 57,000 54,000 17,000 37,000 45,000 Multiple Choice 1.000 0.6875 51 48 45 35 33 31 Online Hours S459N4 2
- explain in detail with the help of graph ? Does the sales tax affect the consumers with price increase ?Midterm - Spring 202 X ass litall Juola X /1FAlpQLScDqlelRY3De8plmvqDMsOlrvJu7QfbTdTldsbxjfNXMtBITg/formResponse 2 leall o es SQUCOFFEE - Goo.. Google än SQU paga تنزيل الفيديو عبر الإن. . . M POMG27 Order the phases of group development from the LEAST functional group dynamics to the MOST functional: * emergence, brainstorming, conflict O brainstorming, conflict, emergence conflict, brainstorming, emergence reinforcement, emergence, brainstormingMOER The table below shows how supply and demand Price ($/gal) Demand (million of gal.) 1 1.2 790 700 1.4 640 1.6 580 1.95 497 2.2 450 2.4 430 2.6 420 2.8 390 3 360 Note: there is some randomization in the above data to account for price fluctuations. Make sure to check that you input the correct data in your device. Perform the following work • Assume that Supply has a quadratic relationship with the price. Find this relationship (the help buttons contain an article to compute trend-lines in Excel): -21.935p² + 207.365p+339.085 Round your answer to 3 decimal places S(p) ● D(p): = 1.53 • Assume that the Demand has a quadratic relationship with the price. Find this relationship (the help button links to an article to compute trend-lines in Excel): 85.561p² - 543.789p + 1236.729 Round your answer to 3 decimal places Video Solve | Sn... of gasoliine vary depending on the price: Supply (million of gal.) 511 550 600 641 660 680 700 720 735 786 605 - • Use the trendlines to find the price…
- There are several factors that have influenced the importance of purchasing andsupply”. Justify this statement by discussing information technology as a major factor.Provide an example of your choice to explain the factor.Ypsilanti Market Research conducted a survey to find out whether people who earn more money purchase more expensive goods. The following graph indicates the relationship between income the survey subjects earned and the price of the home that they purchased. PRICE (Thousands of dollars per home) 500 450 400 350 300 250 200 150 100 50 L 0 10 20 30 40 50 60 70 80 INCOME (Thousands of dollars per year) 90 100Go to this website (http://www.measuringworth.com/ppowerus/) for the Purchasing Power Calculator at measuringWorth.com. How much money would it take today to purchase what one dollar would have bought in the year of your birth?
- Table 1: Consumption of Bread and Flour Consumer Consumption Consumption 1 2 3 4 5 of Bread 100 26205 6 15 of Flour 10 90 120 50 75 1202 A supermarket has employed you to do some analysis of their customers' shopping. They have provided you with the data in Table 1. Based on the data in Table 1, explain what preference type you would use in your analysis.Part C 3. The manager of a certain gasoline station wants to forecast the demand for the unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor. The manager has accumulated the following data demand for unleaded gasoline from sales during the past eight months. Month Gasoline Demanded (gallons) Mar 900 Given that the forecast for March is 920. Apr 755 May 650 Jun 550 Jul 625 Aug 730 Sept 820 Oct 1 100 a. Compute the exponential smoothed forecast for the demand from April to November. Use a = 0.25. b. Compute the exponential smoothed forecast for the demand from April to November. Use a = 0.45. c. Plot the actual demand and the forecasts determined in part a and b on the same graph and compare them. d. Make a comparative analysis out of your answers in the plotted data. (3-5 sentences)Jien is just bored all the time; no amount of success makes him happy, it seems. Below is a list of his income for the last several years and the utility he experienced per dollar of income: Year Yearly Income Utility per Dollar Earned 2017 $60,000 2 utils 2018 $70,000 1.8 2019 $100,000 1.5 2020 $120,000 1 2021 $145,000 0.40 From the above, we can say that Jien most likely is different from most people economists study in terms of risk attitudes is "risk loving" will not take a fair bet has a utility of wealth curve that is a straight line