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Betts Electronics purchases three replacement parts for the robotic machines employed in their manufacturing process. Information on the price of replacement parts and quantity purchased is given below.

Part

Price

2000        2004

Quantity

2000    2004

RC-33

$0.50

$0.60

320

340

SM-14

$1.20

$0.90

110

130

WC50

$0.85

$1.00

230

250

Evaluate a simple aggregate price index for 2004. Employ 2000 as the base period.

Statistics and Probability, Statistics

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  • Reference No.:- M923338

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