Assignment:
As part of a study for the Department of Labor Statistics, you are assigned the task of evaluating the improvement in productivity of small businesses. Data for ore of the small businesses you are to evaluate is shown below. The data are monthly average of last year and the monthly average this year. Labor $5 per hour: Capital 0.86% per month of investment: Energy $0.65 per BTU.
a) Determine the multifactor productivity with dollars as the common denominator for last year. The multifactor productivity with dollars as the common denominator for last year is ____ dozen/$. (Round your response to three decimal places.)
b) Determine the multifactor productivity with dollars as the common denominator tor this year. The multifactor productivity with dollars as tire common denominator for this year is ______ dozen/$. Round your response to three decimal places.)
c) Determine the percent charge in productivity for the monthly average last year versus the monthly average this year on a multifactor basis. The percent change in productivity for the monthly average is ____ %. (Round your response to one decimal place.)