Question: only do part b The following data indicate the price indexes of medical care services (base period 1982 = 100) between 2013 and 2017: Period

only do part b only do part b The following data indicate the price indexes of

The following data indicate the price indexes of medical care services (base period 1982 = 100) between 2013 and 2017: Period 2013 2014 2015 2016 2017 2020 Price Index 428.76 437.72 450.28 470.00 477.91 . (a) Assuming that the base period (price index = 100) is reset to the year 2013, compute the average (geometric) inflation rate for medical care services between 2013 and 2017. The average inflation rate is 2.75 %. (Round to two decimal places.) (b) If the past trend is expected to continue, how would you estimate the medical care services in 2020? The price index of medical care services in 2020 would be 531.26. (Round to one decimal place.)

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