Consider the following simple price index created with a base year of 2004. a. Update the index

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Consider the following simple price index created with a base year of 2004.

a. Update the index numbers using a revised base year of 2008.
b. Determine the percentage change in price from 2004 to 2012.
c. Determine the percentage change in price from 2008 to 2012.

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Business Statistics Communicating With Numbers

ISBN: 9780078020551

2nd Edition

Authors: Sanjiv Jaggia, Alison Kelly

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Question Posted: Dec 20, 2016 09:52 AM

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Consider the following simple price index created with a base year of 2004. a. Update the index

Question:

2004 2005 2006 2007 2008 2009 2010 2011 2012 100 102.2 106.3 110.8 109.4 107.2 108.9 110.5 114.7 Year Price Index

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a The updated price index is calculated as For 2004 we ...View the full answer

Business Statistics Communicating With Numbers

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