Question: (b) The prices and quantities for 3 commodities sold in 2019 and 2020 at a private company are shown in the table below. STA1102(F)fPage 2

(b) The prices and quantities for 3 commodities sold in 2019 and 2020 at a private company are shown in the table below. STA1102(F)fPage 2 of2 (i) Compared to year 2019, the quantity for Rice has decreased 64% in 2020. Find the value of y. (2 marks) (ii) It is also found that the simple aggregate quantity index in 2020 is 150 using 2019 as base year. Find the value of x. (2 marks) (iii) Using 2019 as base year, calculate the Laspeyres price index for the items in 2020. Interpret your result. (4 marks)

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