Business, 20.03.2020 22:13 trent1002brown

The table below lists the prices from last year and the base year for a college-related basket of goods. Basket of College-Related Goods Basket of Goods Price Base Year (dollars) Price Last Year (dollars) Gasoline (per gallon) $1.90 $2.50 Pizza (per pizza) 4.50 7.95 Beer (per 6-pack) 4.20 7.00 Textbook (per book) 100.00 233.00 Instructions: In part a, enter your answers as a whole number. In parts b and c, round your answers to two decimal places. a. What is the total cost for a basket of goods that includes 200 gallons of gas, 60 pizzas, 45 6-packs, and 3 textbooks? In the base year: $ Last year: $ b. Using this basket of goods, compute the following CPI values: In the base year: Last year: c. Assume that rather than buying textbooks for their courses last year, all students decided to buy online access cards at $100 per textbook. Compute the total cost for this basket of goods and the CPI. Total cost of basket: $ CPI:

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