Expert answer:Assistance needed in statistics

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Answer & Explanation:The consumer price index: A. may be used to determine real disposable personal income levels. B. is an indicator of the rate of inflation in the economy. C. illustrates the extent to which purchasing power has been eroded since the base year. D. All of the aboveIf the average hourly earnings in mining in 1978 was $7.67 and for the most recent month was $14.90, what is the index of hourly earnings for the most recent month based on 1978? A. 100.0 B. 186.9 C. 151.5 D. 194.3The Bureau of the Census reported that the farm population dropped from 30.5 million in 1940 to 6.5 million in 1999. What is the index for 1999 based on 1940? A. 469.7 B. 100.0 C. 21.3 D. 78.7The number of items produced and the price per item for the Duffy Manufacturing Company are: PriceProduction1990200019902000Shear pins (box)$3$410,0009,000Cutting compound (lb.)$1$5600200Tie rods (each)$10$83,0005,000What is the value index of production for 2000 using 1990 as the base period? A. 115.2 B. 72.9 C. 110.6 D. 127.1Which index is computed using base year prices and quantities and current year prices and quantities together? A. Laspeyers B. Paasche C. Value D. Consumer PriceThe Consumer Price Index in June 1998 was 248.4 (1982-84 = 100). What does this indicate about prices from 1982-84 to June 1998? A. Rose 248.4% B. Rose 548.4% C. Rose 148.4% D. Declined 148.4%

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