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The reasonable estimate of the current customer price index is 195. The option B is the correct option.
<h3>Customer price index</h3>Customer price index is the price index which measures the weight average of price of basket of customers goods or services.
It can be given as,
Here is the cost of market basket in current period and
is the cost of market basket in the base period.
Cost of market basket in current period is
Cost of market basket in 1983 is,
Substitute all the values in the formula
Thus the value of current CPI is 168.5 which is near about the 170.
Hence, the reasonable estimate of the current customer price index is 195. The option B is the correct option.
Learn more about the customer price index here;
<u>Part a)</u>
Given the expression
Apply exponent rule:
∵
Rewrite 81 as 3 · 27
Rewrite 54 as 2 · 27
Factor out the common term: 27m³n
Therefore,
<u>Part B)</u>
Given the expression
Apply exponent rule:
Rewrite as
Factor out common term 5y²x²z
Therefore,