a) From the accompanying table calculate a simple price index for movie a ticket

Question

a) From the accompanying table calculate a simple price index for movie a ticket using 2013 as the base period. (round to the nearest 10th )

b) From the accompanying table calculate a simple price index for bus ticket using 2013 as the base period (round to the nearest 10th)

c) From the accompanying table calculate a simple price index for teh popcorn using 2013 as the base period (round to the nearest 10th)

2013(=100) 2015 Item price Quanity Price Quanity Movie ticket $9.50 50 $11.00 55 Popcorn $3.75 70 $4.50 60 Bus ticket $3.05 40 $3.25 45

Explanation / Answer

The table given in the question statement is as below:

Calculating the price per quantity in 2013 and in 2015 and then price index in 2015 using 2013 as base year:

2013(=100) 2015 Item Price Quantity Price Quantity Movie ticket $9.50 50 $11.00 55 Popcorn $3.75 70 $4.50 60 Bus ticket $3.05 40 $3.25 45

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