Explore BrainMass
Share

Creating a price index

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

Create a price index for Green Bay Packer fans using the following basket of goods with 1997 prices as the base year.

Quantities Prices
In 1997 1997 1998

90 lbs of cheese $2.50/lb $2.0/lb
12 flannel shirts $15/shirt $20/shirt
16 football tickets $25/ticket $30/ticket

© BrainMass Inc. brainmass.com October 25, 2018, 7:48 am ad1c9bdddf
https://brainmass.com/economics/finance/creating-a-price-index-515768

Solution Preview

Total value of given basket of goods at 1997 prices=90*2.50+12*15+16*25=$805
Total value of given basket of goods at 1998 ...

Solution Summary

Solution describes the steps to create a price index in the given case.

$2.19
See Also This Related BrainMass Solution

ways to motivate project teams

What are some ways to motivate project teams? Are the ideas presented in the article "Using Earned Value Management Indexes as Team Development Factor and a Compensation Tool" applicable to your organization? Why or why not?

View Full Posting Details