The table below shows hypothetical tuition costs at a Canadian university.
TABLE 2-1
-Refer to Table 2-1.Assume that 2014 is used as the base year,with the index number = 100.The value of the index number in 2012 is calculated as follows:
A)5000/5100 = 0.98.
B)(5100/5000)× 100 = 102.
C)5100/5000 = 1.02.
D)5100/5100 = 100.
E)(5000/5100)× 100 = 98.

Question

The table below shows hypothetical tuition costs at a Canadian university.
  TABLE 2-1
-Refer to Table 2-1.Assume that 2014 is used as the base year,with the index number = 100.The value of the index number in 2012 is calculated as follows:
A)5000/5100 = 0.98. 
B)(5100/5000)× 100 = 102. 
C)5100/5000 = 1.02. 
D)5100/5100 = 100. 
E)(5000/5100)× 100 = 98.

Quizplus · Accepted Answer

The index number for 2012 is calculated by dividing the value in 2012 by the value in the base year (2014) and then multiplying by 100. Thus, (5000/5100) × 100 = 98.

The Table Below Shows Hypothetical Tuition Costs at a Canadian