Question: The table summarises the unit sales and prices for a food manufacturer from 2017 to 2020. Using 2017 as the base year, construct an unweighted

The table summarises the unit sales and prices for a food manufacturer from 2017 to 2020.

Cashew nuts Macadamla nuts Quantity (kg) Quantity (kg) 560 Price ($/kg) Price

Using 2017 as the base year, construct an unweighted price index, a Laspeyres index and a Paasche index. Interpret each index and explain any differences that you find in your results.

Cashew nuts Macadamla nuts Quantity (kg) Quantity (kg) 560 Price ($/kg) Price ($/kg) Year 14.00 2017 40 9.50 590 10.50 16.00 2018 180 2019 16.00 230 19.50 635 380 23.00 2020 18.00 885

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