Hanna, who is a 5-year-old girl, eats nothing but pasta, yogurt, and lemonade. Each month her...

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Hanna, who is a 5-year-old girl, eats nothing but pasta, yogurt, and lemonade. Each month her parents buy 24 pounds of pasta, 63 packages of yogurt, and 14 bottles of lemonade. These three items make up a basket of goods and services similar to the much larger basket used by the Bureau of Labor Statistics (BLS) when computing the official Consumer Price Index (CPI). The table below lists the average price for each item in this basket for the past four years. Hanna's Meals Year 1 2 3 4 Pasta (dollars per Yogurt (dollars per pound) $1.88 2.01 2.23 2.39 package) $0.99 1.09 1.09 1.19 Instructions: Round your answers to two decimal places. a. For each year, calculate the CPI, using year 1 as the base year. In year 1, the CPI was 100 In year 3, the CPI was In year 4, the CPI was Lemonade (dollars per bottle) $2.06 2.18 1.93 1.98 In year 2, the CPI was 108.04 In year 3, the CPI was 109.44 In year 4, the CPI was 117.39 b. For each year, calculate the CPI, using year 3 as the base year. In year 1, the CPI was 100 In year 2, the CPI was Hanna, who is a 5-year-old girl, eats nothing but pasta, yogurt, and lemonade. Each month her parents buy 24 pounds of pasta, 63 packages of yogurt, and 14 bottles of lemonade. These three items make up a basket of goods and services similar to the much larger basket used by the Bureau of Labor Statistics (BLS) when computing the official Consumer Price Index (CPI). The table below lists the average price for each item in this basket for the past four years. Hanna's Meals Year 1 2 3 4 Pasta (dollars per Yogurt (dollars per pound) $1.88 2.01 2.23 2.39 package) $0.99 1.09 1.09 1.19 Instructions: Round your answers to two decimal places. a. For each year, calculate the CPI, using year 1 as the base year. In year 1, the CPI was 100 In year 3, the CPI was In year 4, the CPI was Lemonade (dollars per bottle) $2.06 2.18 1.93 1.98 In year 2, the CPI was 108.04 In year 3, the CPI was 109.44 In year 4, the CPI was 117.39 b. For each year, calculate the CPI, using year 3 as the base year. In year 1, the CPI was 100 In year 2, the CPI was

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