Consider an imaginary price index, the Undergraduate Price Index $($UPI$),$ created to represent the annual purchases made by a typical undergradute. The following table contains information on the market basket for the UPI and the price of each good in $2020,2021,$ and $2022.$The cost of each good in the basket as well as the baskets total cost are given for $2020.$Perform these same calculations for $2021$ and $2022,$ and enter the results in the following table.Quantity in Basket$202020212022$PriceCostPriceCostPriceCost$($Dollars$)($Dollars$)($Dollars$)($Dollars$)($Dollars$)($Dollars$)$Streaming services$17070100130$Iced coffees$250250022$Textbooks$101201,200150180$Notebooks$1523058$Energy drinks$50210046$Total cost$1,900$Price index$100$Suppose this price index uses $2020$ as the base year.In the last row of the table, calculate and enter the value of the UPI for the remaining years.Between $2020$ and $2021,$ the UPI increased by$.$ Between $2021$ and $2022,$ the UPI increased by$.$Which of the following, if true, would illustrate why price indexes such as the UPI might overstate inflation in the cost of going to college? Check all that apply.As the price of energy drinks increased relative to the price of coffee between $2020$ and $2022,$ students decreased their consumption of energy drinks and increased their consumption of coffee.The quality of textbooks increased dramatically from $2020$ to $2022,$ with textbook companies bundling new online study aids with their books, but this quality change is hard to measure.An app$-$based scooter company, which made it easier to get around places like college campuses, became available for rental.Professors required each student to buy $15$ notebooks, regardless of the price.