Question: Determine a value index for 2014 using 2005 as the base period. The prices of selected items for 2006 and 2014 are as follows. Quantity

Determine a value index for 2014 using 2005 as the base period.

The prices of selected items for 2006 and 2014 are as follows. Quantity purchased is also listed. 2006 2014 Item Price ($) Quantity Price ($) Quantity Paper, computer (pkg) $4.99 400 $5.99 500 Paper, lined (pkg) 0.89 1000 0.99 1200 Paper, plain (pkg) 0.99 850 1.19 1000 Paper, coloured (pkg) 1.49 350 1.79 350

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