1 answer

A trucking firm handles four commodities for a particular distributor. Total shipments for the commodities in...

Question:

A trucking firm 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 following table.

Commodity Shipments Price/Shipment
2000
2000 2015
A 115 90 $1,200
B 84 73 $1,800
C 40 55 $2,000
D 60 70 $1,500

Develop a weighted aggregate quantity index with a 2000 base. (Round your answer to the nearest integer.)

I2015 =

Comment on the growth or decline in quantities over the 2000–2015 period.

Quantities are up slightly, by less than 5%.

Quantities are down substantially, by more than 5%.   

Quantities are up substantially, by more than 5%.

Quantities are down slightly, by less than 5%.


Answers

I2015=(ΣQ2015*price/ΣQ2000*price)*100 =(90*1200+73*1800+55*2000+70*1500)*100/(115*12000+84*1800+40*2000+60*1500)
=98.9547 ~   99

Quantities are down slightly, by less than 5%.

.

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