Instruction 14-21
Given Below Are the Average Prices for Three

question 159

Short Answer

Instruction 14-21
Given below are the average prices for three types of energy products in Australia from 2006 to 2010.
$$\begin{array} { | l | c | c | c | } \hline \text { Year } & \text { Electricity } & \text { Natural Gas } & \text { Fuel Oil } \\\hline 2006 & 43.205 & 25.893 & 0.892 \\\hline 2007 & 16.959 & 28.749 & 0.969 \\\hline 2008 & 47.202 & 28.933 & 1.034 \\\hline 2009 & 48.874 & 29.872 & 0.913 \\\hline 2010 & 48.693 & 28.384 & 0.983 \\\hline\end{array}$$
-Referring to Instruction 14-21,what is the Paasche price index for the group of three energy items in 2008 for a family that consumed 13 units of electricity,26 units of natural gas and 235 units of fuel oil in 2008 using 2006 as the base year?

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Definitions:

Canine

A tooth located between the incisors and premolars, pointed in shape and used for tearing food.

Premolar

A type of tooth located between the canine teeth and molars in the mouth, used for crushing and grinding food.

Incisor

A front tooth specialized in cutting food, found in both the upper and lower jaws of mammals.

Molar

A tooth adapted for grinding, located in the posterior part of the mouth in both the upper and lower jawbones.