Solve the problem.
-Find the gasoline price index for 1975 using the 1955 price as the reference value. Use the table below. $$\begin{array}{l}
\text { YEAR|GASOLINE PRICE }\
\begin{array} { l | l }
& \text { (cents per gallon) } \
\hline 1955 & 29.1 \
1965 & 31.2 \
1975 & 56.7 \
1985 & 119.6 \
1995 & 120.5 \
2000 & 155.0 \
2010 & 284.0
\end{array}
\end{array}$$
A)19.5
B)51.3
C)194.8
D)175.3

Question

Solve the problem.
-Find the gasoline price index for 1975 using the 1955 price as the reference value. Use the table below. $$\begin{array}{l}
\text { YEAR|GASOLINE PRICE }\
\begin{array} { l | l } 
& \text { (cents per gallon) } \
\hline 1955 & 29.1 \
1965 & 31.2 \
1975 & 56.7 \
1985 & 119.6 \
1995 & 120.5 \
2000 & 155.0 \
2010 & 284.0
\end{array}
\end{array}$$
A)19.5
B)51.3
C)194.8
D)175.3

Quizplus · Accepted Answer

To find the gasoline price index for 1975 using the 1955 price as the reference value, use the formula: $\text{Index} = \left( \frac{\text{Price in 1975}}{\text{Price in 1955}} \right) \times 100$. Substituting the given values: $\text{Index} = \left( \frac{56.7}{29.1} \right) \times 100 = 194.8$.

Solve the Problem A)195 B)51

Solve the Problem A)195
B)51