Roberto is a senior citizen who consumes food and health care. When he retired in​ 2002, he consumed 90 meals and 3 medical checkups per month. Suppose in 2002 that the price of a meal was ​$10 and the price of a medical checkup was ​$64. ​However, in​ 2012, the price of a meal is ​$11 and the price of a medical checkup is ​$278. As a​ result, Roberto consumes 100 meals and 2 medical checkups per month. Calculate a Laspeyres​ cost-of-living index for Roberto using 100 as the base in 2002. In​ particular, the Laspeyres index for 2012 is nothing. ​(Enter your response rounded to two decimal places.​)

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Roberto
is a senior citizen who consumes food and health care. When
he
retired in​ 2002,
he
consumed 90 meals and 3 medical checkups per month. Suppose in 2002 that the price of a meal was
​$10
and the price of a medical checkup was
​$64.
​However, in​ 2012, the price of a meal is
​$11
and the price of a medical checkup is
​$278.
As a​ result,
Roberto
consumes 100 meals and 2 medical checkups per month.
Calculate a Laspeyres​ cost-of-living index for
Roberto
using 100 as the base in 2002. In​ particular, the Laspeyres index for 2012 is
nothing.
​(Enter
your response rounded to two decimal
places.​)
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