In the last row of the table, calculate and enter the value of the CSPI for the remaining years.Between 2017 and 2018, the CSPI increased by% . Between 2018 and 2019, the CSPI increased byWhich of the following, if true, would illustrate why price indexes such as the CSPI might overstate inflation in the cost of going to college? Check allthat apply.A new type of personal transporter, which made it easier to get around places like university campuses, became available for purchase.Professors required each student to buy 10 notebooks, regardless of the price.The quality of textbooks increased dramatically from 2017 to 2019, with textbook companies bundling new online study aids with theirbooks, but this quality change is hard to measure.As the price of energy drinks increased relative to the price of coffee between 2017 and 2019, students decreased their consumption ofenergy drinks and increased their consumption of coffee. 1. Calculating inflation using a simple price indexConsider a fictional price index, the College Student Price Index (CSPI), based on a typical college student's annual purchases. Suppose the followingtable shows information on the market basket for the CSPI and the prices of each of the goods in 2017, 2018, and 2019.The cost of each item in the basket and the total cost of the basket are shown for 2017.Perform these same calculations for 2018 and 2019, and enter the results in the following table.201720182019PriceCostPriceCostPriceCostQuantity in Basket (Dollars) (Dollars) (Dollars)(Dollars)(Dollars)(Dollars)Notebooks10550711Calculators100100110140Large coffees1501150Energy drinks5021003Textbooks101001,000120150Total cost1,400Price index100Suppose the base year for this price index is 2017.In the last row of the table, calculate and enter the value of the CSPI for the remaining years.

Cost= Price×Quantity Price Index=Total cost of current yearCost of base year×100 Quantity…

1. Calculating inflation using a simple price index Consider a fictional price index, the College Student Price Index (CSPI), based on a typical college student's annual purchases. Suppose the following table shows information on the market basket for the CSPI and the prices of each of the goods in 2017, 2018, and 2019. The cost of each item in the basket and the total cost of the basket are shown for 2017. Perform these same calculations for 2018 and 2019, and enter the results in the following table. 2017 2018 2019 Price Cost Price Cost Price Cost Quantity in Basket (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) Notebooks 10 5 50 7. 11 Calculators 1 100 100 110 140 Large coffees 150 150 Energy drinks 50 2 100 3 4 Textbooks 10 100 1,000 120 150 Total cost 1,400 Price index 100 Suppose the base year for this price index is 2017.