Compute price index number by simple average of price relatives method using arithmetic mean and geometric mean. item price in 2001 ($) price in 2002 ($) A 10 В 2 C 4 10 12 8. 12

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section: Chapter Questions
Problem 8SGR
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Question
Compute price index number by simple average of price relatives method using arithmetic mean and
geometric mean.
item
price in 2001 ($)
price in 2002 ($)
A
10
2
2
C
4
10
12
8.
12
Transcribed Image Text:Compute price index number by simple average of price relatives method using arithmetic mean and geometric mean. item price in 2001 ($) price in 2002 ($) A 10 2 2 C 4 10 12 8. 12
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