An item with a price relative of 132 cost $10.75 in 2011. Its base year was 1994.
Question:
a. What was the percentage increase or decrease in cost of the item over the 17-year period?
b. What did the item cost in 1994?
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Related Book For 
Statistics For Business & Economics
ISBN: 9781305585317
13th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
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