Retail Forward, Inc., is a global management consulting and market research firm specializing in retail intelligence and strategies. One of its press releases ( June Consumer Outlook: Spending Plans Show Resilience , June 1, 2006) divulged the result of the Retail Forward ShopperScape™ survey conducted each month from a sample of 4,000 U.S. primary household shoppers. A measure of consumer spending is represented by the figure at the top of the next page:
a. Describe the type of index used by Retail Forward to explore consumer spending.
b. Determine the actual percentage change in the Future Spending Index between December 2005 and June 2006.
c. Determine the actual percentage change in the Future Spending Index between June 2005 and June 2006.