What does the index value of 338.9 in 1980 mean? Explain your reasoning. Average Gasoline Prices (per gallon) Price $0.31 $0.36 Price as a Percentage Price Index (1970 = 100) 86.1 Year of 1970 Price 1960 86.1% 1970 100.0% 338.9% 341.7% 433.3% 100.0 1980 1990 $1.22 338.9 $1.23 341.7 2000 $1.56 $2.84 433.3 2010 788.9% 788.9 Choose the correct answer below. O A. Gas in 1980 cost 3.389 times as much as gas in 1970, because the ratio of the gas price index in 1980 to the gas príce index in 1970 is 3.389. O B. Gas in 1980 cost 338.9c per gallon, because the gas price index measures the cost per gallon. O C. Gas in 1980 cost 338.9 times as much as gas in 1970, because because the ratio of the gas price index in 1980 to the gas price index in 1970 is 338.9. O D. Gas in 1980 cost 3.389¢ per gallon. because the gas price index measures the cost per gallon.
What does the index value of 338.9 in 1980 mean? Explain your reasoning. Average Gasoline Prices (per gallon) Price $0.31 $0.36 Price as a Percentage Price Index (1970 = 100) 86.1 Year of 1970 Price 1960 86.1% 1970 100.0% 338.9% 341.7% 433.3% 100.0 1980 1990 $1.22 338.9 $1.23 341.7 2000 $1.56 $2.84 433.3 2010 788.9% 788.9 Choose the correct answer below. O A. Gas in 1980 cost 3.389 times as much as gas in 1970, because the ratio of the gas price index in 1980 to the gas príce index in 1970 is 3.389. O B. Gas in 1980 cost 338.9c per gallon, because the gas price index measures the cost per gallon. O C. Gas in 1980 cost 338.9 times as much as gas in 1970, because because the ratio of the gas price index in 1980 to the gas price index in 1970 is 338.9. O D. Gas in 1980 cost 3.389¢ per gallon. because the gas price index measures the cost per gallon.
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 3SE: The Oxford Dictionary defines the word nominal asa value that is “stated or expressed but...
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Transcribed Image Text:What does the index value of 338.9 in 1980 mean? Explain your reasoning.
Average Gasoline Prices (per gallon)
Price as a Percentage Price Index
(1970 = 100)
86.1
100.0
Year
Price
of 1970 Price
1960
$0.31
$0.36
86.1%
1970
100.0%
338.9%
341.7%
433.3%
1980
$1.22
338.9
1990
$1.23
341.7
433.3
788.9
2000
$1.56
$2.84
2010
788.9%
Choose the correct answer below.
O A. Gas in 1980 cost 3.389 times as much as gas in 1970, because the ratio of the gas price index in 1980 to the gas price index in 1970 is 3.389.
O B. Gas in 1980 cost 338.9c per gallon, because the gas price index measures the cost per gallon.
O C. Gas in 1980 cost 338.9 times as much as gas in 1970, because because the ratio of the gas price index in 1980 to the gas price index in 1970 is 338.9.
O D. Gas in 1980 cost 3.389¢ per gallon. because the gas price index measures the cost per gallon.
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