Price information for selected foods for 2000 and 2016 is given in the following table. Price...

Question

Question

Price information for selected foods for 2000 and 2016 is given in the following table.

Compute a simple aggregate price index. Use 2000 as the base period. (Round your answer to 2 decimal places.)

Simple aggregate price index:

math Statistics-And-Probability

Answer 1

Answer #1

simple aggregate price index is given by

where is the price for base period (2000) and is the price for current period.

So, = (0.55/0.5)*100 = 100

Answer 2

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