1. Price index numbers Aa Aa The price of a movie ticket for the years 1990 thro
ID: 3304952 • Letter: 1
Question
1. Price index numbers Aa Aa The price of a movie ticket for the years 1990 through 2009 are reported in the following table. Movie price index numbers using 2005 as the base year are also displayed. Compute the three missing movie price index numbers and enter them in the table. (Note: Round your answers to one decimal place.) Movie Price Index 65.8 65.7 64.7 64.6 63.7 67.9 Year Price ($)* 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 4.22 4.21 4.15 4.14 4.08 4.35 4.42 4.59 4.69 5.08 5.39 5.66 5.81 6.03 6.21 6.41 6.55 6.88 7.18 71.6 73.2 79.3 84.1 88.3 90.6 94.1 96.9 102.2 107.3 2009 7.36 114.8 Average price for first and subsequent runs at U.S. movieExplanation / Answer
By using linear regression model we get equation Y = 15.59*X + 0.04149
Here Y is Movie price index and X is Price
Y at Price 4.42 is Y=15.59*4.42 + 0.04149 = 68.949=68.95=69.0
Y at price 6.41 is Y = 15.59*6.41 + 0.04149 = 99.973=99.97=100.0
Y at Price 7.18 is Y = 15.59*7.18 + 0.04149 =111.977=111.98=112.0
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