Explanation Given: The table is: 2002 181.9 2003 183.4 2004 188.3 2005 197.6 2006 207.2 2007 220.8 Calculation: It is given that 2002 is the base year. So, index of 2002 = 100 . The calculation is done as: 2003 = ( 183.4 181.9 ) × 100 = 100.8 2004 = ( 188.3 181.9 ) × 100 = 103.5 2005 = ( 197.6 181.9 ) × 100 = 108

7th Edition

ISBN: 9781111792374

Author: WEIERS

Publisher: Cengage Learning

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Chapter 18.8, Problem 18.58E

To determine

To convert:The index numbers so that the base period will be 2002 instead of 1982.

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Chapter 18 Solutions

Introduction to Business Statistics

Ch. 18.3 - Prob. 18.13E Ch. 18.8 - Prob. 18.58E

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The index numbers so that the base period will be 2002 instead of 1982.

Solution Summary: The author explains how to convert the index numbers so that the base period will be 2002 instead of 1982.

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To convert:The index numbers so that the base period will be 2002 instead of 1982.

Chapter 18 Solutions