The table below shows hypothetical tuition costs at a Canadian university. TABLE 2-1 Refer to Table 2-1.Assume that 2017 is used as the base year,with the index number = 100.The value of the index number in 2015 is calculated as follows:
A)5000/5100 = 0.98.
B)(5100/5000)× 100 = 102.
C)5100/5000 = 1.02.
D)5100/5100 = 100.
E)(5000/5100)× 100 = 98.

Question

The table below shows hypothetical tuition costs at a Canadian university.  TABLE 2-1 Refer to Table 2-1.Assume that 2017 is used as the base year,with the index number = 100.The value of the index number in 2015 is calculated as follows:
A)5000/5100 = 0.98. 
B)(5100/5000)× 100 = 102. 
C)5100/5000 = 1.02. 
D)5100/5100 = 100. 
E)(5000/5100)× 100 = 98.

Quizplus · Accepted Answer

To calculate the index number, we need to divide the current year tuition by the base year tuition and then multiply by 100. For 2015, the calculation is: (5000/5100) x 100 = 98. Therefore, the best choice is E.

The Table Below Shows Hypothetical Tuition Costs at a Canadian