Question: Suppose on average a male shaver in 2001 bought one razor handle and used 17 razor blades in a year and that the price relatives

Suppose on average a male shaver in 2001 bought one razor handle and used 17 razor blades in a year and that the price relatives for 2001 to 2011 are as appears in the following table on next page. Develop a Male Shaver Expense Index based on weighted price relatives for 2011.

2001 per Capita Use Base Price (S) 7.46 1.90 2001-2011 Price Relatives 126.9 153.7 Item Razor handle Blades 17

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