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

question 141

Short Answer

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

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Definitions:

Death Benefit

A payout to the beneficiary of an insurance policy or pension plan upon the death of the insured individual or member.

Automobile Risk Assessment

The process of evaluating the potential risks associated with insuring a particular vehicle, considering factors like model, age, and driver history.

Automobile Insurance

A policy purchased by vehicle owners to mitigate costs associated with getting into an auto accident.

Payment

The transfer of money or goods in exchange for a product or service.