An index of clothing prices for 2006 based on 1985 is to be constructed. The prices for 1985 and 2006 and the quantity consumed in 1985 are shown below.

Assuming that the number sold remained constant, i.e., the same number were sold in 2006 as in 1985, what is the weighted index of price for 2006 using 1985 as the base?
A) 206.7
B) 214.5
C) 48.4
D) 46.6

Answer rating: 100% (QA)

Weighted Price Index For Year 1985 Total expenditure 35500 4012... View the full answer