Question 1
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 2019 is
◦ 96.
◦ 0.96.
◦ 1.04.
◦ 104.
◦ 100.
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. The increase in tuition fees from 2018 to 2022 is
◦ 0.04%.
◦ 200.
◦ 200/5200.
◦ 100/5000.
◦ 4%.