The prices for several "staple" food items for the years 2000 and 2009. Compute the simple average index for this group of items using 2000=100. Item Bread (white, loaf) Milk (white, litre) Eggs (white, dozen) Flour (white, 11.36kg) Butter (salted, 500g) 164.5 64.5 74.9 174.9 2000 Price ($) 2009 Price ($) 0.89 2.29 0.95 1.85 1.69 1.88 5.99 9.99 1.79 2.59

The prices for several "staple" food items for the years 2000 and 2009. Compute the simple average index for this group of items using 2000=100. Item Bread (white, loaf) Milk (white, litre) Eggs (white, dozen) Flour (white, 11.36kg) Butter (salted, 500g) 164.5 64.5 74.9 174.9 2000 Price ($) 2009 Price ($) 0.89 2.29 0.95 1.85 1.69 1.88 5.99 9.99 1.79 2.59

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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