The president of a small manufacturing firm is concerned about the continual increase in manufacturing costs over the past several years. The following figures provide a time series of the cost per unit for the firm’s leading product over the past eight years.
Year 
Cost/Unit ($) 

1 
2003 
20 
2 
2004 
24,5 
3 
2005 
28,2 
4 
2006 
27,5 
5 
2007 
26,6 
6 
2008 
30 
7 
2009 
31 
8 
2010 
36 
Show a graph of this time series.
Find all simple index numbers for the base year 2003 and 2008.
Determine all chain base index numbers.
What is average growth rate of the cost in the years 20062010?
Develop the equation for the linear trend of the time series. What is the average cost increase that the firm has been realizing per year?
What cost can we predict for the year 2014 ? What is the error of this estimate?
Make a comprehensive analysis of time series below:
March 
April 
May 
June 

9,1 
10,6 
11,5 
13,8 
Using the least square criterion estimate the parameters of the proper trend function. What kind of icecream sales can we expect in July? Give the standard error of estimate. What kind of assumption must we use for a given estimation? Check the average growth rate of the variable between February and June if .
Gasoline sales time series:
Week 
Sales (1000s of gallons) 
1 
17 
2 
21 
3 
19 
4 
23 
5 
18 
6 
16 
7 
20 
8 
18 
9 
22 
10 
20 
11 
15 
12 
22 
Make a comprehensive analysis of time series.
Choose the first, the fifth and last week as the base period.
The values of Alabama building contracts (in millions of dollars) for a 12month period (the year 2012) are as follow:
Month 
Sales 
Month 
Sales 
1 
240 
7 
220 
2 
350 
8 
310 
3 
230 
9 
240 
4 
260 
10 
310 
5 
280 
11 
240 
6 
320 
12 
230 
Compare values of the variable using to this aim the first period as a base.
Check the changes using the chain base index numbers.
Determine the average growth rate between March and July.
The president of small manufacturing firm is concerned about the continual increase in manufacturing costs over the past several years. The following figures provide a time series of the cost per unit for the firm’s leading product over the past eight years.
year 
Cost/unit ($) 
year 
Cost/unit ($) 
2005 
20,00 
2009 
26,60 
2006 
24,50 
2010 
30,00 
2007 
28,20 
2011 
31,00 
2008 
27,50 
2012 
36,00 
Compare the cost in the year 2012 with the cost in the year 2010.
Compare the cost in the year 2011 with the cost in the year 2007.
Compare the cost in the year 2005 with the cost in the year 2010.
Determine all costs with the base unit cost 36,00($).
What is the average cost increase that the firm has been realizing per year?
Develop the equation for the linear trend components of the time series.
The following data show the percentage of rural, urban, and suburban Americans who have a highspeed Internet connection at home (Pew Internet Rural Broadband Internet Use, February 2006).
Year 
Rural 
Urban 
Suburban 
2001 
3 
9 
9 
2002 
6 
18 
17 
2003 
9 
21 
23 
2004 
16 
29 
29 
2005 
24 
38 
40 
For each group, develop a linear trend equation.
For each group check the average growth /decline/ rate.
For each group make a prediction for the year 2006 and determine standard error of estimate.
The following data show the average monthly cellular telephone bill (The
year 
1999 
2000 
2001 
2002 
2003 
Amount ($) 
41 
45 
47 
48 
50 
Graph the time series.
Does the trend appear to be present?
Find the theoretical linear trend function.
Use the trend equation to estimate the average monthly bill for the year 2005 and 2007. Use standard error in your estimation.
Based on data below make a comprehensive analysis of price dynamics, quantity and value of all grocery products per capita in Poland in 2011 relative to the base year 2010.
product unit 
price (PLN) 
quantity 

2010 
2011 
2010 
2011 

eggs 
carton 
5,5 
6,0 
60 
50 
butter 
250 grams 
3,9 
3,9 
70 
65 
meat /pork/ 
kilogram 
17 
19 
30 
35 
milk 
litre 
1,8 
2,3 
120 
140 
bread 
loaf 
2,2 
2,0 
150 
150 
Do not forget to make conclusions taking into account Fisher ideal index.
Fresh fruit price and quantity data for the year 1988 and 2001 follow (Statistical Abstract of the United States, 2002).
Quantity data reflect per capita consumption in pounds and prices are per pound.
Fruit 
1988 Per Capita Consumption (pounds) 
1988 Price ($/pound) 
2001 Price ($/pound) 
bananas 
24,3 
0,41 
0,51 
apples 
19,9 
0,71 
0,87 
oranges 
13,9 
0,56 
0,71 
pears 
3,2 
0,64 
0,98 
Compute relative price for each product.
Compute a weighted aggregate price index for fruit products.
Comment on the change in fruit prices over the 13year period.
Starting faculty salaries (ninemonth basis) for assistant professor of business administration at a major Midwestern university follow.
Comment on the trend in salaries in higher education as indicated by these data. What faculty salary can we expect in the year 2015 ?
Make a comprehensive analysis of dynamic.
year 
Starting Salary ($) 
1970 
14 000 
1975 
17 500 
1980 
23 000 
1985 
37 000 
1990 
53 000 
1995 
65 000 
2000 
80 000 
2005 
110 000 
Boran Stockbrokers, Inc., selects four stocks for the purpose of developing its own index of stock market behavior. Prices per share for a 2004 base period, January 2006, and March 2006 follow.
Baseyear quantities are set on the basis of historical volumes for stocks.
Price per Share 

Stock 
Industry 
2004 Quantity 
2004 base 
January 2006 
March 2006 
A 
Oil 
100 
31,50 
22,75 
22,50 
B 
Computer 
150 
65,00 
49,00 
47,50 
C 
Steel 
75 
40,00 
32,00 
29,50 
D 
Real Estate 
50 
18,00 
6,50 
3,75 
Use the 2004 base period to compute the Boran index for January and March 2006. Compute the price relatives for the four stocks.
/Use the weighted aggregates of price to compute the January 2006 and March 2006 Boran indexes/
Comment on what the indexes tell us about what is happening in the stock market.
The following table reports prices and usage quantities for two items in 2004 and 2006.
Item 
Quantity 
Unit price ($) 

2004 
2006 
2004 
2006 

A 
1 500 
1800 
7,5 
7,75 
B 
2 
1 
630 
1 500 
Find price change for each item in 2006 using 2004 as the base period.
Find unweighted aggregate price index for the two items using the year 2004 as the base year.
Find weighted aggregate price index for the two items using Lasperyes and Paasche index.
Check the changes of quantities using appropriate aggregate index number.
Interpret Fisher ideal index.
What can you say about value change?
A large manufacturer purchases an identical component from three independent suppliers that differ in unit price and quantity supplied. The relevant data for 2004 and 2006 are given here:
supplier 
Unit price ($) 
Quantity (2004) 

2004 
2006 

A 
5,45 
6,0 
150 
B 
5,6 
5,95 
200 
C 
5,5 
6,2 
120 
Compute the price relatives for each of the component suppliers separately. Find all possible unweighted and weighted index numbers. What is the interpretation of these index numbers?
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