135.05 is wrong answer. 8.1 is the wrong answer Given that the average movie tic

Question

135.05 is wrong answer.
8.1 is the wrong answer

Given that the average movie ticket price in 1983 was $3.15 and the average price of a movie in 2013 was $8.13, calculate the price index for the 2013 movie ticket using the 1983 price as a reference value. 8.13 Index # = x100-2581 This means that the 2013 ticket price is 258.1% of the 1983 ticket price. Given the above information along with the fact that the movie ticket price index for 2003 is 191.4 (again using 1983 as a reference value), find the average price for a movie ticket in 2003. We can take a ratio of the index numbers and use this number to scale a givern ticket price to the desired value

Explanation / Answer

From the given data and the working shown, average movie ticket price for 2013 is $8.13 and average movie ticket price for 2003 is $6.02. So, index number for average movie ticket price for 2013 keeping 2003 as reference value is

100 x (8.13/6.02) = 134.38 = 134.4 ANSWER

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