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2. Suppose Elisa's basket of university education consisted of only 4 items (hypothetical costs) which are listed on the following table. The annual quantity of items is fixed in both 2015 and 2016. Item 2015 2016 Tuition fees $8000 $8500 Room and board $7000 $7400 Books $2500 $2500 Wine $250 $275 a) Using 2015 as the base year, how much has Elisa's university education price index increased? b) If Elisa's pay increased by five percent from 2015 to 2016 is she better off based on the information in the above table