Consider the following two piece index series:
2008=100 2012=100 2010=100
2007 94 A
2008 100 B
2009 115 C
2010 110 80 D
2011 90 E
2012 100 F
2013 115 G
Splice the two price index series to form one continuous series with 2010 as the base year.
Find the value of G.
143.75
140.75
142.25
145.50
150.75
To convert the first price index series to base year 2010, we need to find the multipliers for 2007, 2008, and 2009.
For 2007: 2010 value/2008 value = 110/100 = 1.1
For 2008: 2010 value/2008 value = 110/100 = 1.1
For 2009: 2010 value/2012 value = 110/100 = 1.1
Now, we multiply the 2007, 2008, and 2009 values with their respective multipliers:
2007: 94 * 1.1 = 103.4
2008: 100 * 1.1 = 110
2009: 115 * 1.1 = 126.5
The first price index series with base year 2010 is as follows:
2007: 103.4
2008: 110
2009: 126.5
2010: 110
2011: (110 * 90)/100 = 99
2012: (110 * 100)/100 = 110
2013: (110 * 115)/100 = 126.5
Now, to find the value of G, we can see that G corresponds to the year 2013, which has a value of 126.5 in the continuous series.
Therefore, the value of G is 126.5.