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Price Index Numbers

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Following are the quantities and prices for the years 2000 and 2003 for Kinzua Valley Geriatrics. Use 2000 as the base period.

a. Determine the simple price indexes.
b. Determine the simple aggregate price indexes for the two years.
c. Determine Laspeyres' price index.
d. Determine the Paasche price index.
e. Determine Fisher's ideal index.

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Solution Summary

The solution gives details of calculation of simple price indexes. Simple aggregate price indexes, Laspeyres' price index, Paasche price index and Fisher's ideal index.

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Exercise 8
Following are the quantities and prices for the years 2000 and 2003 for Kinzua Valley Geriatrics. Use 2000 as the base period.
2000 2003
Item Price ...

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