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The data in the accompany shows the unit prices (in $) and quantity (in millions) of three appliances sold in a certain large city in 2015 and 2016. 2015 2015 2016 2016 ITEM PRICE QUANTITY PRICE QUANTITY Refrigerator 1200 50 1300 65 Stove 350 30 400 40 Television 900 60 1050 70 Using 2015 as a base year, calculate each of the following. 5.1. Laspeyres price index. (8 marks) 5.2. Laspeyres quantity index. (3 marks) 5.3. Paasche index. (3 marks)
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