TABLE 16-14
Given below are the average prices for three types of energy products in the United States from 1992 to 1995.
$$\begin{array} { c c c c }
\text { Year } & \text { Electricity } & \text { N atural Gas } & \text { Fuel Oil } \
1992 & 43.205 & 25.893 & 0.892 \
1993 & 16.959 & 28.749 & 0.969 \
1994 & 47.202 & 28.933 & 1.034 \
1995 & 48.874 & 29.872 & 0.913 \
1996 & 48.693 & 28.384 & 0.983
\end{array}$$
-Referring to Table 16-14, what is the Laspeyres price index for the group of three energy items in 1994 for a family that consumed 15 units of electricity, 24 units of natural gas and 200 units of fuel oil in 1992 using 1992 as the base year?

Question

TABLE 16-14
Given below are the average prices for three types of energy products in the United States from 1992 to 1995.
 $$\begin{array} { c c c c } 
\text { Year } & \text { Electricity } & \text { N atural Gas } & \text { Fuel Oil } \
1992 & 43.205 & 25.893 & 0.892 \
1993 & 16.959 & 28.749 & 0.969 \
1994 & 47.202 & 28.933 & 1.034 \
1995 & 48.874 & 29.872 & 0.913 \
1996 & 48.693 & 28.384 & 0.983
\end{array}$$
-Referring to Table 16-14, what is the Laspeyres price index for the group of three energy items in 1994 for a family that consumed 15 units of electricity, 24 units of natural gas and 200 units of fuel oil in 1992 using 1992 as the base year?

Quizplus · Accepted Answer

The Answer of TABLE 16-14
Given below are the average prices for three types of energy products in the United States from 1992 to 1995.
 $$\begin{array} { c c c c } 
\text { Year } & \text { Electricity } & \text { N atural Gas } & \text { Fuel Oil } \
1992 & 43.205 & 25.893 & 0.892 \
1993 & 16.959 & 28.749 & 0.969 \
1994 & 47.202 & 28.933 & 1.034 \
1995 & 48.874 & 29.872 & 0.913 \
1996 & 48.693 & 28.384 & 0.983
\end{array}$$
-Referring to Table 16-14, what is the Laspeyres price index for the group of three energy items in 1994 for a family that consumed 15 units of electricity, 24 units of natural gas and 200 units of fuel oil in 1992 using 1992 as the base year?

TABLE 16-14 Given Below Are the Average Prices for Three

TABLE 16-14
Given Below Are the Average Prices for Three