1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
marysya [2.9K]
3 years ago
6

Suppose that in the base period a college student buys 20 gallons of gasoline at $2 per gallon, 2 CDs for $13 each, and 4 movie

tickets for $7 each. In the next month, the price of gasoline is $2.25 per gallon, CDs cost $12.50 each, and the price of a movie ticket is $7.50.(Scenario: Price Index) The price index for the second month is:
(A) 94
(B) 106.4
(C) 100
(D) 101.1
Business
1 answer:
spayn [35]3 years ago
4 0

Answer:

The correct answer is option B.

Explanation:

In the base period a college student buys 20 gallons of gasoline at $2 per gallon, 2 CDs for $13 each, and 4 movie tickets for $7 each.

In the next month, the price of gasoline is $2.25 per gallon, CDs cost $12.50 each, and the price of a movie ticket is $7.50.

The price index

= \frac{price\ of\ basket\ in\ the\ current\ year}{price\ of\ basket\ in\ the\ base\ year}\ \times\ 100

= \frac{100}{94}\ \times\ 100

= 106.38 or 106.4

You might be interested in
____ is called the "first" management function because all other management functions depend on it.
Papessa [141]

Answer:

D

Explanation:

A statement of the basic purpose that makes the organization different from others.

8 0
3 years ago
Read 2 more answers
Dr. G, the principal at Westside High School Academy, is worried that the students who win academic awards might also be more li
rosijanka [135]

No, Dr G has nothing to worry about because only 8 students won the academic as well as fine arts award out of 128 academic award winners. This corresponds to very low percentage of joint winners out of just academic award winners (0.0625%)

Explanation:

Total students in the Westside High School- 768

Winner of academic awards- 128

Winner of fine arts awards- 48

Students who won both awards- 8

Dr G pre assumption= Dr G was worried that winner of academic awards would win fine awards more likely.

But it seems that his assumtions are wrong since only 8 students out of 128 students won joint awards (meaning only 8 students won awards for fine arts as well as academic awards). Similarly, this corresponds to only 0.0625% of students winning academic awards as well as Fine arts awards.

8 0
3 years ago
How does the law of supply and demand operate?
Orlov [11]
When supplies of goods and service are plentiful, the prices usually drop but when they are scarce, prices start rising.
8 0
3 years ago
Some companies hire an outside consultant to assist in the project team regarding selecting a vendor solution for the project. W
IceJOKER [234]

Answer and explanation:

Outside consultants are individuals who work for themselves or represent a firm and are hired for their expertise to give suggestions on certain matters where an organization does not have much information.  

<em>The advantage of counting on these professionals relies on the wide scope of ideas that they can provide to the organization in cases such as selecting a vendor solution.  </em>

However, <em>by hiring an external consultant the projects of the employees of the company can be set aside even if they can have more information on the business itself and might be more aware of what the company needs and could best suit it.</em>

3 0
3 years ago
Journal entries relating to capital
Doss [256]
The answer to this problem would be c :))
3 0
3 years ago
Other questions:
  • Syngman Rhee was not successful doing which of the following? Rebuilding China after the wars Increasing production of China Dri
    12·2 answers
  • The economy begins in equilibrium at point E, representing the real interest rate r1 at which saving S1 equals desired investmen
    11·1 answer
  • A Chapter 7 bankruptcy proceeding is formally commenced by the _____.
    7·1 answer
  • A 2-year T-note was issued 9 months ago with a face value of $1000. It pays a 5% per annum coupon, paid semiannually. Suppose th
    12·1 answer
  • The December 31, 2018, balance sheet of Whelan, Inc., showed long-term debt of $1,420,000, $144,000 in the common stock account,
    11·1 answer
  • It is better to evaluate economic decisions at the marginal, where the decision has to be made as long as its marginal benefit e
    11·1 answer
  • _____ asserted in an article in the Harvard Business Review that modern transportation and communications technologies are facil
    8·1 answer
  • payment history and total debt, together, comprise of 65% of your score. why do you think it’s so high?
    10·1 answer
  • At the end of the current year, the accounts receivable account has a debit balance of $2,950,000 and sales for the year total $
    7·1 answer
  • What can a producer gain by specializing?
    14·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!