Consider a fictional price index the College Student Price I

Consider a fictional price index, the College Student Price Index (CSPI). based on a typical college student\'s annual purchases. Suppose the following table shows information on the market basket for the CSPI and the prices of each of the goods in 2010, 2011, and 2012. The cost of each item in the basket and the total cost of the basket are shown for 2010 Perform these same calculations for 2011 and 2012, and enter the results in the following table. 2010 2011 2012 Cost Cost Cost Quantity in Basket (Dollars) (Dlars) (Dollars) (Dollars) (Dollars) (Dollars) 15 30 70 500 100 Calculators Large coffees Energy drinks Textbooks Total cost Price index 70 100 130 250 50 10 120 1,200 150 180 ] 1,900 100 Suppose the base year for this price index is 2010 In the last row of the table, calculate and enter the value of the CSPI for the remaining years. Between 2010 and 2011, the CSPI increased by [ %|\" Between 2011 and 2012, the CSPI increased by -%] Which of the following, if true, would illustrate why price indexes such as the CSPI might overstate inflation in the cost of going to college? Check all that apply A new mobile device for personal computing became available for purchase As the price of calculators rose, fewer students decided to buy them, opting instead to use the free calculators in their cell phones or on their computers. A large percentage of students now buy their textbooks online, while the CSPI uses data from university book stores that increase the prices of textbooks by a larger percentage per year than online retailers. Professors required each student to buy 10 textbooks, regardless of the price Energy drinks became increasingly popular on college campuses between 2010 and 2012 due to significant improvements in flavor.

Solution

2011 * 2012

15.5=75 15.8=120

1.100=100 1.130=130

250.2=500 250.2=500

50.4=200 50.6=300

150.10=1500 180.10=1800

Total

Cost=2375(sum 2850

Of above)

Can answer only 4 parts according to chegg policy. Please send other parts as separate question. Please please like answer