The prices of the following table below are the three components in a typical consumer's budget: transportation, rent and utilities, food, and insurance.
You should conduct the aggregate price index based on these components on the assumption that rent and utilities account for 40% of the weight in this index, food for 45 %, transport for 10 %, and insurance for 5%
2010 is a base year
2009 | 2010 | 2011 | 2012 | 2013 | |
---|---|---|---|---|---|
Transport, $ | 100 | 200 | 300 | 500 | 500 |
Rent and Utilities, $ | 3 000 | 3 500 | 4 000 | 4 800 | 4 000 |
Food, $ | 5 000 | 5 000 | 5 000 | 7 000 | 8 000 |
Insurance, $ | 2 500 | 2 500 | 3 000 | 3 000 | 3 000 |
(!) Do not write the sigh of %, only numbers (without signs after the dot)
Price Index | 2009 | 2010 | 2011 | 2012 | 2013 |
---|---|---|---|---|---|
Transport | 100 | ||||
Rent and Utilities | 114 | ||||
Food | 100 | ||||
Insurance | 120 |
Iaggregated=∑(PI*Weight)
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