Using the Price of the Following Food Items,compute the Aggregate

question 108

Essay

Using the price of the following food items,compute the aggregate index numbers for the four types of cheeses.Let 1990 be the base year for this market basket of goods.
$$\begin{array} { | l | l | l | l | } \hline \text { Item Price/pound } & 1990 & 1995 & 2000 \\\hline \text { Cheddar } & 1.31 & 1.53 & 1.40 \\\hline \text { Swiss } & 1.99 & 2.21 & 2.15 \\\hline \text { Provolone } & 2.14 & 1.92 & 2.68 \\\hline \text { Pepper jack } & 2.89 & 3.38 & 3.10 \\\hline\end{array}$$

---

Definitions:

Customer Service

The support and care provided by a business to its customers before, during, and after a purchase, aiming to improve customer satisfaction and loyalty.

Waterways

Natural or man-made channels like rivers, canals, and seas used for transportation and travel.

Distribution System

The network or infrastructure that allows for the delivery of products and services from producers to end consumers, including logistics, warehouses, and retail outlets.

Shipping Cost

This term refers to the expense associated with the logistics of transporting goods from the seller to the buyer.