What is the laspeyres index


The owner of the Grapes O'Raff vineyard has collected the following data for the prices (per ton) and quantities (tons) of harvested crops for the years 2007 and 2009 (2007 = 100):

2007 2009
Price QTY Price QTY
Chardonnay 110 1380 115 1590

Pinot Noir 115 1250 122 1350

Syrah 121 1000 130 1500

Based on these numbers, what is the Laspeyres index?

a) 94.30

b) 105.92

c) 106.04

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Basic Statistics: What is the laspeyres index
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