Question: The following table reports prices and usage quantities for two items in 2007 and 2009. a. Compute price relatives for each item in 2009 using

The following table reports prices and usage quantities for two items in 2007 and 2009.

a. Compute price relatives for each item in 2009 using 2007 as the base period.
b. Compute an unweighted aggregate price index for the two items in 2009 using 2007 as the base period.
c. Compute a weighted aggregate price index for the two items using the Laspeyres method.
d. Compute a weighted aggregate price index for the two items using the Paasche method.

Quantity Unit Price (S) Item 2007 2009 2009 1800 2007 7.75 1500.00 1500 7.50 630.00

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