If Y₁ = 116 and Y₇ = 255, then the simple index number for period 7 (denoted I₇) is: A)215.3. B)219.8. C)222.7. D)242.4.

Question

Quizplus · Accepted Answer

The simple index number for period 7 can be calculated using the formula: $IS_{t} = \frac{P_{t}}{P_{0}} \times 100$, where $P_{t}$ is the price in the current period and $P_{0}$ is the price in the base period. Given that Y₇ = 255 and Y₁ = 116, we can infer that the base value (116) corresponds to period 11 and the current value (255) corresponds to period 17. To find the index for period 7, we need to understand the relationship between these periods. However, without explicit values for periods 7, 11, and 17, we can't directly calculate it. The question seems to imply a linear relationship or a pattern that allows us to extrapolate or interpolate the value for period 7 based on the given values for periods 11 and 17. Assuming a linear increase, we can estimate the value for period 7 by understanding the rate of increase from period 11 to 17 and applying it proportionally backward. However, the correct answer (B) 219.8, suggests a specific calculation or pattern not directly provided in the question, implying a need for additional context or a formula based on the given information that directly leads to this answer.

If Y1 = 116 and Y7 = 255, Then the Simple

If Y₁ = 116 and Y₇ = 255, Then the Simple