Calculate the inflation rate based on the first price index

Assignment Help Mathematics

Reference no: EM131123525

The total price of purchasing a basket of goods in the United Kingdom over four years is: year 1=£940, year 2=£970, year 3=£1000, and year 4=£1070. Calculate two price indices, one using year 1 as the base year (set equal to 100) and the other using year 4 as the base year (set equal to 100). Then, calculate the inflation rate based on the first price index. If you had used the other price index, would you get a different inflation rate? If you are unsure, do the calculation and find out

Reference no: EM131123525

Questions Cloud

Find the rate at which water is being pumped into the tank : find the rate at which water is being pumped into the tank. (Round your answer to the nearest integer.)

Explain the components needed in cash flow statements : Identify the components needed in cash flow statements. Explain the benefits of cash-flow analysis and any problems that could arise if it is not conducted.

How do feel nursing informatics will aid as a nurse in field : Data storage measures should provide safe, accessible storage to authorized persons through a plan that considers provider, client, and third-party payer needs; physical threats to information and media (Hebda& Czar, 2013).What are some security m..

Would the uml map always evolve as the iterations evolve : Systems analysts use UML maps, regardless of the SW development methodology: waterfall, Scrum or Kanban. But, under Scrum, would the UML map always evolve as the iterations evolve? Isn't this confusing to the client?

Calculate the inflation rate based on the first price index : Then, calculate the inflation rate based on the first price index. If you had used the other price index, would you get a different inflation rate? If you are unsure, do the calculation and find out

What are you eating and doing with regard to your nutrition : If your rating was 4 -5, what are you eating and doing with regard to your nutrition that reflects this rating? What do/can you do to ensure you will continue to do these things even if you have limited time or are stressed?

Special education for gifted and talented students : 13-GIFTED AND TALENTED • How has the dynamic and evolving definition of giftedness changed the ways in which students are identified and served? • Why do students who are very capable need special education?

How were the gold industry stock markets affected by fraud : How were the gold industry and Canadian stock markets affected by this fraud? In what ways would investigating the financial results and operating characteristics help determine the value of Bre-X's gold prospects?

Write and test a program that reads in three integers : Use the SPIM system calls described on pages B-43 and B-45. You can break ties arbitrarily.

User Account

All Pages