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Math

Statistics

Compute a simple aggregate price index. Use 2010 as the base period

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

The following information is on food items for the years 2010 and 2018.

2010 2018

Item Price Quantity Price Quantity

Margarine (pound) $0.81 18 $2.00 27

Shortening (pound) 0.84 2 1.88 9

Milk (1/2 gallon) 1.44 74 2.89 63

Potato chips 2.91 26 3.99 32

Compute a simple aggregate price index. Use 2010 as the base period. (Round your answer to 2 decimal places.)

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