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

question 113

Short Answer

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 unweighted aggregate price index for the group of three energy items in 1995 using 1992 as the base year?

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Definitions:

Coefficient Of Correlation

A statistical measure that indicates the extent to which two variables fluctuate together. A value closer to 1 or -1 indicates a stronger relationship.

Decreases

To become smaller or less in size, amount, intensity, or degree.

Portfolio Returns

The gain or loss on an investment portfolio, measured over a specific period of time.

Uncorrelated

Describes a situation where two or more variables do not have a linear relationship, meaning the change in one variable does not predict the change in another.