Suppose you want to create a price index for the price of a personal pizza across several Canadian university campuses, as of March 1 , 201 6. The data are as follows:

a. Using Calgary as the "base university," construct the Canadian university pizza price index.

b. At which university is pizza the most expensive, and by what percentage is the price higher than in Calgary?

c. At which university is pizza the least expensive, and by what percentage is the price lower than in Calgary?

d. Are the data listed above time-series or crosssectional data? Explain why.

Transcribed Image Text:

University Dalhousie Price per Pizza $6.50 Laval 5.95 McGill 6.00 Queen's 8.00 Waterloo 7.50 Manitoba 5.50 Saskatchewan 5.75 Calgary 6.25 UBC 7.25 Victoria 7.00