Compute a simple price index for each of the four items.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Question
he following information is on food items for the years 2010 and 2018.
2010 | 2018 | ||||||||||||
Item | Price | Quantity | Price | Quantity | |||||||||
Margarine (pound) | $ | 0.81 | 18 | $ | 2.00 | 27 | |||||||
Shortening (pound) | 0.84 | 5 | 1.88 | 9 | |||||||||
Milk (1/2 gallon) | 1.44 | 70 | 2.89 | 65 | |||||||||
Potato chips | 2.91 | 27 | 3.99 | 33 | |||||||||
Compute a simple price index for each of the four items. Use 2010 as the base period. (Round your answers to 2 decimal places.)
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