Annual median family income. The table below lists the US median annual family income every 4 years during the period 1990–2018. It also contains several values for each of two simple indexes for median family income.

a. Calculate the missing values of each simple index.

b. Interpret the index for 2002. Year Income ($) Base 1990 Index Base 1994 Index 1990 29,943 – 92.81 1994 32,264 107.75 – 1998 38,885 129.86 – 2002 42,409 141.63 – 2006 48,201 – – 2010 49,276 – – 2014 53,657 – – 2018 63,179 – – Source: FRED, Economic Research, Federal Reserve Bank of St. Louis (fred.stlouisfred.org).