Author Question: Solve the problem.Identify the four price index numbers in the table that would result from using ... (Read 79 times)

jeatrice · **on:** Jan 18, 2020

Question 1

Solve the problem.

Part of the Housing Price Index for 1999 is given below:

Suppose that wages are directly related to housing values. If the hourly wage for a job is

per hour in Spokane, what would the job pay in Sioux City?
◦ $24.58
◦ $8.92
◦ $9.77
◦ $5.89

Question 2

Solve the problem.

Identify the four price index numbers in the table that would result from using the price from 1995 as the reference value. Round each value to the nearest tenth.

Average Gasoline Prices (per gallon)

Year	Price	Price as a Percentage of 1975 Price	Price Index (1975 = 100)	Price Index (1995 = 100)
1955	29.1¢	51.3%	51.3
1975	56.7¢	100.0%	100.0
1995	120.5¢	212.5%	212.5
2005	231.0¢	407.4%	407.4

◦ 1955: 191, 1975: 100, 1995: 47.8, 2005: 24.1
◦ 1955: 191.7, 1975: 100, 1995: 47.1 ,2005: 24.1
◦ 1955: 24.1, 1975: 47.8, 1995: 100, 2005: 191
◦ 1955: 24.1, 1975: 47.1, 1995: 100, 2005: 191.7

sarahccccc · **Reply #1 on:** Jan 18, 2020

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