Consider the following simple price index created with a base year of 2004. Year 2004 2005 2006

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

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

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: 9780071317610

1st Edition

Authors: Kelly Jaggia

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Question Posted: Jul 27, 2024 08:01 AM

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Consider the following simple price index created with a base year of 2004. Year 2004 2005 2006

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Business Statistics Communicating With Numbers

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