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I. Annual cost of company 'X' from 2015-2019 as follows: Annual cost (£000) 8.2 8.5 8.4 Year 2015 2016 2017 2018 2019 a) Using 2016 as the base year (=100), find the index numbers for cost of the company 'X' over the whole period. Show step-by-step calculations. b) If the index is 108.92 for year 2018, calculate the cost of the base year. c) If the index is 93.75 for year 2019, calculate the cost of the base year. d) Using appropriate examples, explain the importance of Consumer Price Index (CPI). ( 8.8 8.7

I. Annual cost of company 'X' from 2015-2019 as follows: Annual cost (£000) 8.2 8.5 8.4 Year 2015 2016 2017 2018 2019 a) Using 2016 as the base year (=100), find the index numbers for cost of the company 'X' over the whole period. Show step-by-step calculations. b) If the index is 108.92 for year 2018, calculate the cost of the base year. c) If the index is 93.75 for year 2019, calculate the cost of the base year. d) Using appropriate examples, explain the importance of Consumer Price Index (CPI). ( 8.8 8.7

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 2E
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I. Annual cost of company 'X' from 2015-2019 as follows: Annual cost (£000) 8.2 Year 2015 2016 2017 2018 8.5 8.4 8.8 8.7 2019 a) Using 2016 as the base year (=100), find the index numbers for cost of the company 'X' over the whole period. Show step-by-step calculations. b) If the index is 108.92 for year 2018, calculate the cost of the base year. c) If the index is 93.75 for year 2019, calculate the cost of the base year. d) Using appropriate examples, explain the importance of Consumer Price Index (CPI). (
Transcribed Image Text:I. Annual cost of company 'X' from 2015-2019 as follows: Annual cost (£000) 8.2 Year 2015 2016 2017 2018 8.5 8.4 8.8 8.7 2019 a) Using 2016 as the base year (=100), find the index numbers for cost of the company 'X' over the whole period. Show step-by-step calculations. b) If the index is 108.92 for year 2018, calculate the cost of the base year. c) If the index is 93.75 for year 2019, calculate the cost of the base year. d) Using appropriate examples, explain the importance of Consumer Price Index (CPI). (
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