All work must be shown out if possible.

Problem 1. When John started his freshman year at GWU, his parents decided to create a basket of items that included his spending on major items so they can track his spending and compute ination rates for the basket. John is now a junior (nishing up his 6th semester at GWU). His parents have the complete data until the end of 5th semester. To save you computation time, I included only three items from the basket: Item 1: Textbook Item 2: Eating at High End Restaurants Item 3: Electronic items/Cell phones/laptop/tablet Quantity of items Average Price of each item ($) t Semester 1 2 3 t Semester 1 2 3 . 1 S1 7 3 5 1 S1 $70 $35 $200 2 S2 5 5 2 2 S2 $100 $50 $500 3 S3 8 2 3 3 S3 $60 $80 $400 4 S4 10 4 0 4 S4 $80 $40 $300 5 S5 6 5 1 5 S5 $120 $50 $900 6 S6 - - - 6 S6 - - - Use the information provided above, answer (compute) all the questions (CPIs) below: a) Laspeyres price index for Semester 4 (S4) 1 point b) Paasche Price Index for Semester 4 (S4) 1 polnt c) Fisher for Price Index for Semester 4 (S4) 0.5 point (1) Lowe's Price Index for Semester 4 (S4) 7 1 point -- For this, use S3 basket as the base e) Establish a Run chart (Chapter 13) for textbook price only (identify the center line and upper/control limits using the data provided) --- here, your answer can be based on the total spending on the textbook per semester or average spending on the textbook you decide on the chart you prefer --- All I want for you is to establish a norm (center line and upper/lower control limits based on 6-sigma rule) 1 point