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I. Annual cost of company 'X' from 2015-2019 as follows: Annual cost (£000) 8.2 8.5 8.4 Year 2015 2016 2017 2018 2019 a) Using 2016 as the base year (=100), find the index numbers for cost of the company 'X' over the whole period. Show step-by-step calculations. b) If the index is 108.92 for year 2018, calculate the cost of the base year. c) If the index is 93.75 for year 2019, calculate the cost of the base year. d) Using appropriate examples, explain the importance of Consumer Price Index (CPI). ( 8.8 8.7

I. Annual cost of company 'X' from 2015-2019 as follows: Annual cost (£000) 8.2 8.5 8.4 Year 2015 2016 2017 2018 2019 a) Using 2016 as the base year (=100), find the index numbers for cost of the company 'X' over the whole period. Show step-by-step calculations. b) If the index is 108.92 for year 2018, calculate the cost of the base year. c) If the index is 93.75 for year 2019, calculate the cost of the base year. d) Using appropriate examples, explain the importance of Consumer Price Index (CPI). ( 8.8 8.7

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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I. Annual cost of company 'X' from 2015-2019 as follows: Annual cost (£000) 8.2 Year 2015 2016 2017 2018 8.5 8.4 8.8 8.7 2019 a) Using 2016 as the base year (=100), find the index numbers for cost of the company 'X' over the whole period. Show step-by-step calculations. b) If the index is 108.92 for year 2018, calculate the cost of the base year. c) If the index is 93.75 for year 2019, calculate the cost of the base year. d) Using appropriate examples, explain the importance of Consumer Price Index (CPI). (
Transcribed Image Text:I. Annual cost of company 'X' from 2015-2019 as follows: Annual cost (£000) 8.2 Year 2015 2016 2017 2018 8.5 8.4 8.8 8.7 2019 a) Using 2016 as the base year (=100), find the index numbers for cost of the company 'X' over the whole period. Show step-by-step calculations. b) If the index is 108.92 for year 2018, calculate the cost of the base year. c) If the index is 93.75 for year 2019, calculate the cost of the base year. d) Using appropriate examples, explain the importance of Consumer Price Index (CPI). (
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