Based on the following table for stadium concession, what would the price index equal in 2011? $$\begin{array} { c c c }
&\text { HOt Dog } & \text { Soft DrinK } & \text { Pragram } \
2010&\$ 5.00 & \$ 4.00 & \$ 8.00 \
2011&\$ 5.50 & \$ 4.75 & \$ 9.00 \
2012&\$ 6.00 & \$ 5.50 & \$ 10.00
\end{array}$$

Question

Based on the following table for stadium concession, what would the price index equal in 2011? $$\begin{array} { c c c } 
&\text { HOt Dog } & \text { Soft DrinK } & \text { Pragram } \
2010&\$ 5.00 & \$ 4.00 & \$ 8.00 \
2011&\$ 5.50 & \$ 4.75 & \$ 9.00 \
2012&\$ 6.00 & \$ 5.50 & \$ 10.00
\end{array}$$

Quizplus · Accepted Answer

The price index for 2011 is calculated by taking the total cost of items in 2011 divided by the total cost of items in 2010, then multiplying by 100. The total cost in 2010 is $17.00, and in 2011 it is $19.25. Thus, the price index is (19.25/17.00) * 100 = 113.2.

Based on the Following Table for Stadium Concession, What Would