The number of items sold by Fred's candy store for 2004 and 2007 and the store prices for the two periods are:
Price ($) Number Sold
Item sold 2004 2007 2004 2007
Fudge 2.00 2.90 711 663
Chips 1.00 1.15 1212 1301
Pop 1.65 1.80 751 877
For full marks your answer should be accurate to at least one decimal place.
a) Find the value index of sales for 2007 using 2004 as the base period. Value Index = ?
b) What is the percentage of increase/decrease of sales from 2004 to 2007? Percent change = ?%