1. (6.5 points) The table below shows prices for fruit that the typical college student purchased from 2001 to 2004. Use

[answerhappygod]

1 6 5 Points The Table Below Shows Prices For Fruit That The Typical College Student Purchased From 2001 To 2004 Use 1 (197.48 KiB) Viewed 9 times

1. (6.5 points) The table below shows prices for fruit that the typical college student purchased from 2001 to 2004. Use the table to answer parts a. through c. below. Items Qty Apples 10 $0.40 Bananas 4 $0.20 Grapes 2 $0.65 Raspberries 20 $0.19 Total (2001) Price --- 2001 (2001) Amount Spent (2002) Price $0.45 $0.30 $0.70 $0.17 2002 (2002) Amount Spent (2003) Price $0.65 $0.30 $0.90 $0.17 2003 (2003) Amount Spent (2004) Price a. Fill in the missing values in the table by calculating the amounts spent each year on the different types that make up the "basket" of fruit based on the quantities shown in the second column. Then calculate the total spent in each year and fill in your answers in the final row of the table. $0.70 $0.40 $0.95 $0.22 b. Construct the price index for the "fruit basket" in each year, using 2001 as the base year. Fill your index values into the table below. (2004) Amount Spent 2004 c. Using the information you found, what is the inflation rate from 2001 to 2004?