Products of the Sales (£000s) MSM company 2019 2020 A 379 468 B 765 908 C 473 578 Calculate the Simple Mean Price Index (SMPI) for the year 2020 using 2019 as a base year. Your workings should be clearly shown using three decimal places and the final answer should be accurate to one decimal place. (a) (b) Interpret the above Simple Mean Price Index in relation to the given problem. P Σ P Simple Mean Price Index (SMPI) = x 100

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The table below shows the sales (£000s) of three different products (A, B, C) of the
MSM company in the years 2019 and 2020.
A10.
Question A10 continues next page
6.
Transcribed Image Text:The table below shows the sales (£000s) of three different products (A, B, C) of the MSM company in the years 2019 and 2020. A10. Question A10 continues next page 6.
Products of the
Sales (£000s)
MSM company
2019
2020
379
468
765
908
C
473
578
Calculate the Simple Mean Price Index (SMPI) for the year 2020 using 2019
as a base year. Your workings should be clearly shown using three decimal
places and the final answer should be accurate to one decimal place.
(а)
(b)
Interpret the above Simple Mean Price Index in relation to the given problem.
P
Σ
P.
Simple Mean Price Index (SMPI)
x 100
Transcribed Image Text:Products of the Sales (£000s) MSM company 2019 2020 379 468 765 908 C 473 578 Calculate the Simple Mean Price Index (SMPI) for the year 2020 using 2019 as a base year. Your workings should be clearly shown using three decimal places and the final answer should be accurate to one decimal place. (а) (b) Interpret the above Simple Mean Price Index in relation to the given problem. P Σ P. Simple Mean Price Index (SMPI) x 100
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