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Consider the following table, which reports the sale (quantity in 1,000s) of homes by region for 2007, 2008, and 2009.

Region	2007	2008	2009
Northeast	1,006	849	868
Midwest	1,327	1,129	1,165
South	2,235	1,865	1,913
West	1,084	1,070	1,210

Use this information, along with the price data provided in the previous exercise, to

a. Compute and interpret the Laspeyres aggregate home price index for the U.S.

b. Compute and interpret the Paasche aggregate home price index for the U.S.

c. Comment on the differences between the two indices.

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M92607078

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