-In 2016, consumers in Dexter consumed only books and pens. The prices and quantities for 2016 and 2017 are listed in the table above. The reference base period for Dexter's CPI is 2016. What is the CPI in 2016?
Definitions:
Event
In probability and statistics, an outcome or a set of outcomes of a random experiment; an event defines a specific occurrence within a sample space.
Probability Theory
The branch of mathematics that deals with the analysis of random phenomena and the likelihood of various outcomes.
Outcome
The result or consequence of an experiment or action, often considered in the context of probabilities.
Sample Space
The set of all possible outcomes or results in a statistical experiment or random trial, from which samples can be drawn for analysis.
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