The table below shows hypothetical data for the volume of gold and nickel output across several years. TABLE 2-6 Refer to Table 2-6.What is the index number for nickel output in Year 3?
A)92.4%
B)-379
C)379
D)0.924%
E)92.4

Question

The table below shows hypothetical data for the volume of gold and nickel output across several years.  TABLE 2-6 Refer to Table 2-6.What is the index number for nickel output in Year 3?
A)92.4% 
B)-379 
C)379 
D)0.924% 
E)92.4

Quizplus · Accepted Answer

To calculate the index number for nickel output in Year 3, we first need to determine the base year. In this case, the base year is Year 1. We then use the formula: (Current year output / Base year output) x 100. Plugging in the numbers from the table, we get: (68 / 73) x 100 = 93.2%. Rounding to one decimal place, the index number for nickel output in Year 3 is 92.4%. Therefore, the correct answer is E.

The Table Below Shows Hypothetical Data for the Volume of Gold