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question 5

Multiple Choice

Solve the problem.
-Identify the four price index numbers in the table that would result from using the price from 1995 as the reference value. Round each value to the nearest tenth.
\quad \quad \quad \quad \quad Average Gasoline Prices (per gallon)
 Year  Price  Price as a  Percentage of 1975 Price  Price Index (1975=100)  Price Index (1995=100) 195529.1451.3%51.3197556.7%100.0%100.01995120.5%212.5%212.52005231.04407.4%407.4\begin{array}{|l|l|l|l|l|}\hline \text { Year } & \text { Price } & \begin{array}{l}\text { Price as a } \\\text { Percentage of } \\1975 \text { Price }\end{array} & \begin{array}{l}\text { Price Index } \\(1975=100) \end{array} & \begin{array}{l}\text { Price Index } \\(1995=100) \end{array} \\\hline 1955 & 29.14 & 51.3 \% & 51.3 & \\\hline 1975 & 56.7 \% & 100.0 \% & 100.0 & \\\hline 1995 & 120.5 \% & 212.5 \% & 212.5 & \\\hline 2005 & 231.04 & 407.4 \% & 407.4 & \\\hline\end{array}


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