Page 210 - Microsoft Word - 00 BA3 IW Prelims STUDENT.docx

Chapter 12

Question 2

Changing base year

An index has been created with the following values, expressed with a base
year of 2012.

Year 2012 2013 2014 2015 2016

Value 100 109.8 115.7 118.3 120.3

Amend the index figures so that the base year is 2015.

2012 = 100/118.3 × 100 = 84.5

2013 = 109.8/118.3 × 100 = 92.8

2014 = 115.7/118.3 × 100 = 97.8
2015 = 118.3/118.3 × 100 = 100

2016 = 120.3/118.3 × 100 = 101.7

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