1. Calculating inflation using a simple price index Consider a fictional price index, the Canadian Student Price Index (CSPI), based on a typical university student's annual purchases. Suppose the following table shows information on the market basket for the CSPI and the prices of each of the goods in 2017, 2018, and 2019. The cost of each item in the basket and the total cost of the basket are shown for 2017. Perform these same calculations for 2018 and 2019, and enter the results in the following table. 2017 2018 2019 Price Cost Price Cost Price Cost Quantity in Basket (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) ( Dollars) Notebooks 10 5 50 7 11 Calculators 1 100 100 110 140 Large coffees 150 1 150 1 1 Energy drinks 50 2 100 3 4 Textbooks 10 100 1,000 120 150 Total cost 1,400 Price index 100Suppose the base year for this price index is 201?. In the last row of the table, calculate and enter the value of the CSPI for the remaining years. Between 201? and 2018, the CSPI increased hy-. Between 2018 and 2019, the CSPI increased by . Which of the following, if truer would illustrate whyr price indexes such as the CSPI might overstate inaon in the cost of going to university? Check all that apply. E] The quality of textbooks increased dramatically from 201? to 2019, with textbook companies bundling new online study aids with their books. [:1 Professors required each student to buy 10 notebooks, regardless of the price. C] As the price of energyr drinks increased relative to the price of coffee between 201? and 2019, students decreased their consumption of energy drinks and increased their consumption of coffee. C] A new type of personal transporter, which made it easier to get around places like university campuses, became available for purchase