Consider the following price data from 2002 to 2010.

a. Compute the simple price index using 2002 as the base year.
b. Update the index numbers with a base year revised from 2002 to 2005.
c. Plot the index numbers with a base year of 2002 and a base year of 2005. Compare the two plots?

2002 2003 2004 2005 2006 2007 20082009 2010 3.20 3.46 3.51 4.02 4.18 4.30 4.59 4.50 4.70 Year Price