The table below shows hypothetical monthly cell phone plan fees for the identical service over several years. TABLE 2-2 Refer to Table 2-2.Assume that 2015 is used as the base year,with the index number = 100.The value of the index number in 2017 is
A)100.
B)0.72.
C)72.73.
D)1.375.
E)137.5.

Question

The table below shows hypothetical monthly cell phone plan fees for the identical service over several years.  TABLE 2-2 Refer to Table 2-2.Assume that 2015 is used as the base year,with the index number = 100.The value of the index number in 2017 is
A)100. 
B)0.72. 
C)72.73. 
D)1.375. 
E)137.5.

Quizplus · Accepted Answer

To find the index number for 2017, we need to divide the 2017 monthly fee by the 2015 monthly fee and multiply by 100 (since the base year index number is 100).
Index number for 2017 = (69 ÷ 95) x 100 = 72.63
Rounding this to the nearest hundredth gives us an index number of 72.73.
Therefore, the best choice is C) 72.73.

The Table Below Shows Hypothetical Monthly Cell Phone Plan Fees