AN Kip the Histunut 13 2. Calculating inflation using a simple price index Code a fictional petoe index, the Colinge student Price Index (CSPI), based on a typical college student's annual purchases Suppose the following table shows normation on the market basket for the CSP and the prices of each of the goods in 2017, 2018, and 2019 The cost of each them in the busket and the total cost of the bucket are shown for 2017 Perform these some calculations for 2018 and 2019, and enter the results in the following table, Quantity in Basket 10 2017 2018 Price Cost Price Cast (Dollars) (Dollars) (Dollars) (Dollars) 2 20 1 50 50 54 2019 Price Cost (Dollars) (Dollars) 3 1 75 200 1 200 1 1 Notebooks Calculators Large coffees Energy drinks Textbooks Total cost Price index 100 2 200 3 4 10 100 1.000 120 150 1,490 100 Suppose the base year for this prace index is 2017 in the last row of the table, calculate and enter the ter the value of the CSP for the remaining years between 2017 and 2018, the cspt Increased by Between 2018 and 2019, the CPt increased by which of the foltowing, if true, would llustrate way price indexes such as the CSPt might overstate inflation in the cost of going to college/ Check all that apply As the price of calculators rose, fewer students decided to buy them, opting instead to use the free calculators in their cell phones or on their computers Energy drinks became increasingly popular on college campuses between 2017 and 2010 due to significant improvements in favor, but this quality change is hard to measure: A new mobile device for personal computing became available for purchase. Professors ofessors required each student to buy 10 textbooks, regardless of the price