What does the index value of 78.8 in 1990 mean? Explain your reasoning. Year 1960 1970 1980 1990 2000 2010 Average Gasoline Prices (per gallon) Price as a Percentage of 2000 Price Price $0.31 $0.36 $1.22 $1.23 $1.56 $2.84 19.9% 23.1% 78.2% 78.8% 100.0% 182.1% Price Index (2000 = 100) 19.9 23.1 78.2 78.8 100.0 182.1 Choose the correct answer below. A. Gas in 1990 cost 0.788 times as much as gas in 2000, because the ratio of the gas price index in 1990 gas price index in 2000 is 0.788. B. Gas in 1990 cost 78.8¢ per gallon, because the gas price index measures the cost per gallon. C. Gas in 1990 cost 0.788¢ per gallon, because the gas price index measures the cost per gallon.
What does the index value of 78.8 in 1990 mean? Explain your reasoning. Year 1960 1970 1980 1990 2000 2010 Average Gasoline Prices (per gallon) Price as a Percentage of 2000 Price Price $0.31 $0.36 $1.22 $1.23 $1.56 $2.84 19.9% 23.1% 78.2% 78.8% 100.0% 182.1% Price Index (2000 = 100) 19.9 23.1 78.2 78.8 100.0 182.1 Choose the correct answer below. A. Gas in 1990 cost 0.788 times as much as gas in 2000, because the ratio of the gas price index in 1990 gas price index in 2000 is 0.788. B. Gas in 1990 cost 78.8¢ per gallon, because the gas price index measures the cost per gallon. C. Gas in 1990 cost 0.788¢ per gallon, because the gas price index measures the cost per gallon.
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
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Transcribed Image Text:What does the index value of 78.8 in 1990
mean? Explain your reasoning.
Average Gasoline Prices (per gallon)
Price as a Percentage
of 2000 Price
Year
Price
1960
$0.31
1970
$0.36
1980
$1.22
1990 $1.23
2000
$1.56
2010
$2.84
19.9%
23.1%
78.2%
78.8%
100.0%
182.1%
Price Index
(2000 = 100)
19.9
23.1
78.2
78.8
100.0
182.1
Choose the correct answer below.
A. Gas in 1990 cost 0.788 times as much as gas in 2000, because the ratio of the gas price index in 1990 to the
gas price index in 2000 is 0.788.
B. Gas in 1990 cost 78.8¢ per gallon, because the gas price index measures the cost per gallon.
C. Gas in 1990 cost 0.788¢ per gallon, because the gas price index measures the cost per gallon.
D. Gas in 1990 cost 78.8 times as much as gas in 2000, because because the ratio of the gas price index in
1990 to the gas price index in 2000 is 78.8.
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