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How to calculate the individual indices based on the data on three components expenses? The following table presents a decade's data on three components of

How to calculate the individual indices based on the data on three components expenses?

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The following table presents a decade's data on three components of a typical household's total expenses: education, housing, and food. Year Education Housing Food 1994 $13,740 $17,100 $16,600 1995 $15,180 $19,100 $17,600 1996 $16,380 $20,500 $20,000 1997 $17,700 $21,920 $22,500 1998 $18,940 $23,520 $24,000 1999 $20,260 $24,620 $25,200 2000 $22,280 $24,620 $26,000 2001 $24,510 $25,820 $26,600 2002 $29,300 $26,720 $26,700 2003 $32,230 $26,720 $27,600 a. Using year 1994 as the base year, construct individual indices for each of the three expense items

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