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Compute a simple aggregate price index

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Reference no: EM132666794

Use the following price information for selected items for 1990 and 2016. 

Price  Quantity

Items 1990 2016  1990 2016

Aluminum (cents per pound)$   0.287  $ 0.73   1,000    1,200 

Natural gas (1,000 cu. ft.)  0.17   2.12  5,000  4,000

Petroleum (barrel)  3.18   44.0 60,000   60,000 

Platinum (troy ounce)  133.00 1904.30  500   600 

Click here for the Excel Data File 

Compute a simple aggregate price index. Use 1990 as the base period

Reference no: EM132666794

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