Question: the owner of a service station in sydney recorded the...
Question details
The owner of a service station in Sydney recorded the price ($) and the number of units sold per day of its four most popular items (after petrol). These data were recorded for the years 1980, 1990 and 2020, as shown below.

a Taking 1980 as the base year, calculate the simple aggregate price index for 1990 and 2020.

b Calculate the average of relative price index for 1990 and 2020, taking 1980 as the base year.

c Calculate the Laspeyres price index for 1990 and 2020, with base 1980 = 100. Interpret the index.

d Calculate the Paasche price index for 1990 and 2020, with base 1980 = 100. Interpret the index.
e. Calculate the Fisher price index for 1990 and 2020, with base 1980 = 100.
Item 
p1980 
q1980 
p1990 
q1990 
p2020 
q2020 
Oil (litre) 
0.65 
23 
1.20 
10 
3.50 
5 
Tyres 
23.00 
12 
55.00 
15 
110.00 
16 
Antifreeze (500 mL) 
0.80 
7 
2.00 
20 
5.50 
14 
Battery 
27.00 
13 
45.00 
22 
155.00 
20 