An index of clothing prices for 2000 based on 1983 is to be constructed. The prices for 1983 and 2000 and the quantity consumed in 1983 are shown below. Assuming that the number sold remained constant, i.e., the same number were sold in 2000 as in 1983, what is the weighted index of price for 2000 using 1983 as the base?
A) 206.7
B) 214.5
C) 48.4
D) 46.6
E) 240.0

Question

An index of clothing prices for 2000 based on 1983 is to be constructed. The prices for 1983 and 2000 and the quantity consumed in 1983 are shown below.  Assuming that the number sold remained constant, i.e., the same number were sold in 2000 as in 1983, what is the weighted index of price for 2000 using 1983 as the base?
A) 206.7 
B) 214.5 
C) 48.4 
D) 46.6 
E) 240.0

Quizplus · Accepted Answer

The Answer of An index of clothing prices for 2000 based on 1983 is to be constructed. The prices for 1983 and 2000 and the quantity consumed in 1983 are shown below.  Assuming that the number sold remained constant, i.e., the same number were sold in 2000 as in 1983, what is the weighted index of price for 2000 using 1983 as the base?
A) 206.7 
B) 214.5 
C) 48.4 
D) 46.6 
E) 240.0

An Index of Clothing Prices for 2000 Based on 1983