Suppose Joe Alumni Notices That the Cost of Football Tickets

question 10

Essay

Suppose Joe Alumni notices that the cost of football tickets increased from $20 per game in 1980 (when he graduated) to $50 dollars per game in 2004.The cost of a hot dog and a coke (his typical game food) has also increased, from $3 in 1980 to $6.50 in 2004.And a program costing $2 in 1980 cost $6 in 2004 (he buys one every game).If each of these items is weighted equally (since he buys one of each item per game), what is Joe Alumni's "football game price index" for a single football game?

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Definitions:

Negotiate

The process of discussing something with one or more people in order to reach an agreement or settle differences.

Alternative Payees

Refers to the option within certain financial instruments or payment arrangements to designate a different recipient than the original one specified.

Endorsee

One who receives an endorsement.

Endorsement

is the act of endorsing, which can include a signature or instruction written on the back of a negotiable instrument, or a public expression of support.