Reference no: EM13580291

The average salary of produce workers at a local store for the selected periods are given below.

Year     Average Hourly Earnings ($)

2001               10.13
2002               10.86
2003               10.97
2004               11.35
2005               11.92
2006               12.24*

*preliminary estimate

For full marks your answer should be accurate to at least one decimal place.

a) Using 2001 as the base period and 100 as the base value, determine the indexes for 2005 and for the preliminary 2006 data.

P2005 = blank, P2006= blank

b) Use the average of 2001, 2002 and 2003 as the base and determine indexes for 2005 and for the preliminary 2006 data using 100 as the base value.

P2005 = blank , P2006= blank

c) What is the index for the preliminary 2006 data using 2004 as the base?

P2006= blank