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

question 189

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 unweighted price index for the group of three energy items in 2010 using 2006 as the base year?

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Definitions:

Check Payment

A method of payment wherein the payer writes a check to the payee, who then deposits or cashes the check to receive the amount specified.

Teller's Check

A bank check that is drawn on the bank's own funds and signed by a cashier.

Drawer

The entity or person who writes or creates a check, thereby instructing the bank to pay the stated amount to the party named on the check.

Drawee

The party upon whom a check or draft is drawn, typically a bank, that is directed to pay a certain amount of money.