A compute the simple price index using 2002 as the base, Basic Statistics

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A compute the simple price index using 2002 as the base

Consider the following price data from 2002 to 2010.

a. Compute the simple price index using 2002 as the base year.

b. Update the index numbers with a base year revised from 2002 to 2005.

c. Plot the index numbers with a base year of 2002 and a base year of 2005. Compare the two plots.

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Basic Statistics: A compute the simple price index using 2002 as the base

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Basic Statistics: A compute the simple price index using 2002 as the base

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