Question: Light Estimates - Using Price Index Numbers (10 points) ght fixture requirements contract. There has been a requirements contract awarded for a contractor to supply

Light Estimates - Using Price Index Numbers (10 points) ght fixture requirements contract. There has been a requirements contract awarded for a contractor to supply this fixture in each of the past five years. Each year the estimated quantity has been approximately 10.000 units. Using this price history and available index numbers, estimate a reasonable unit price for the fixtu . Contract Unit Price Price in 19X7 Dollars Year Index Number 19X2 109.9 $21.50 $21.35 19X3 108.8 19X4 114.2 19X5 $22.40 $23.75 $24.90 1986 19X7 121.2 127.0 133.5 Answer the following questions: 1. How can you use this information to estimate a reasonable price? 2. What is your estimate of a reasonable price

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