Author Question: The table below shows hypothetical tuition costs at a Canadian ... (Read 47 times)

amymoore · **on:** Oct 12, 2022

Question 1

Let 1 stand for "any given period" and 2 stand for "base period." The formula of any index number can be written as

◦

value of index at 1 = × 100.

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value of index at 1 = .

◦

value of index at 1 = × 100.

◦

value of index at 1 = × 100.

◦

value of index at 1 = .

Question 2

The table below shows hypothetical tuition costs at a Canadian university.

Year	Tuition
2018	$5000
2019	$5050
2020	$5100
2021	$5150
2022	$5200

TABLE 2-1

Refer to Table 2-1. Assume that 2018 is used as the base year, with the index number = 100. The value of the index number in 2017 is calculated as follows:
◦ (5000/5100) × 100 = 98.
◦ (5100/5000) × 100 = 102.
◦ 5000/5100 = 0.98.
◦ 5100/5000 = 1.02.
◦ 5100/5100 = 100.

queenBea90 · **Reply #1 on:** Oct 12, 2022

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