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The following table shows the price of a specific stereo receiver for a five-year period. Using year 2003 as the base year, calculate the price index...

The following table shows the price of a specific stereo receiver for a five-year period. Using year 2003 as the base year, calculate the price index for each year. Now use year 2000. What is the difference?


                            Year              Price          Price index

                            2000            $ 166                  ___

                            2001              $200                  ___

                            2003              $240                  ___

                            2004              $264                  ___

                            2005              $280                  ___

Top Answer

index index year price  (base2003) base 2000 2000 166 69.17 100.00 2001 200 83.33 120.48 2003... View the full answer

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