Answer to Question #197169 in Statistics and Probability for matheus

Question

The following information was recorded about the sales of food items from Shoprite in Windhoek during the period 2019-2020. Items Number of items sold Price per item ($) 2019 2020 2019 2020 1kg flour 6.0 7.5 12.20 15.00 1 kg liver 7.5 7.0 40.50 55.00 1 kg jam 14.0 13.5 14.95 20.50 2 kg mealie meal 5.0 4.5 13.40 15.50 2 l cooking oil 3.0 3.0 26.00 34.00 3.1. Calculate the simple aggregate price index (unweighted composite index) for 2020 using 2019 as the base year and interpret your answer. [4] 3.2. Calculate the laspeyres price index for 2019 with 2018 as base year (2018=100) [6] 3.3. Calculate the Paasche price index for 2019 with 2018 as base year and interpret your answer