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Consider the following security information for four securities making up an index: Price Shares Security Time=0 Time=l Outstanding 1 8 13 20 million 2 22

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Consider the following security information for four securities making up an index: Price Shares Security Time=0 Time=l Outstanding 1 8 13 20 million 2 22 25 50 million 3 35 30 120 million 4 50 55 75 million What is the change in the value of the index from Time=0 to Time=l if the index is calculated using a value-weighted arithmetic mean

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