Question
The prices for several staple food items for the years 2000 and 2009. Compute the simple average index for this group of items using 2000=100.
The prices for several "staple" food items for the years 2000 and 2009. Compute the simple average index for this group of items using 2000=100.
Item 2000 Price ($) 2009 Price ($)
Bread (white, loaf) 0.89 2.29
Milk (white,litre) 0.95 1.85
Eggs (white, dozen) 1.69 1.88
Flour (white, 11.36kg) 5.99 9.99
Butter (salted, 500g) 1.79 2.59
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Basic College Mathematics With Early Integers (Subscription)
Authors: Elayn Martin Gay
4th Edition
0135181267, 9780135181263
