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The following table illustrates the 2000 and 2010 airfare between New York and London for Coach, Business, and First Class. 2000 is the reference year
The following table illustrates the 2000 and 2010 airfare between New York and London for Coach, Business, and First Class. 2000 is the reference year with an index value of 100. The weight of First Class is two times that of the Coach Class, and the weight of the Business Class is five times that of Coach. Calculate the index for 2010, and then use it and the 2010 airfares to compute the airfare for each class in 2023 when the index is 190 ? Do not use Excel in this problem; show all work
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