The cost of lumber per million board feet (MBF) in January 2007 was $464.49 when the value of the ENR materials cost index (MCI) was 2583.52. If the cost of lumber increased in proportion to the MCI, what was the value of the index when the cost of lumber was $400 per MBF?

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Q: The cost of lumber per million board feet (MBF) in January 2007 was $464.49 when the value of the…

A: Given data: In January 2007,  Cost of lumber, C0=$464.49 Material cost index, I0=2583.52 For cost of…

Q: The cost of lumber per million board feet (MBF) in January 2007 was $464.49 when the value of the…

A: MBF = 464.49 MCI = 2583.52

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