I can calculate indices and do simple problems like “if index is 102 and the price was 20, what will be the price of index is 140”. But certain applications i simply can not understand. here is an example: Month-Prod—OH———Price ———Units—Costs—–Index Jan 10——-3352——-100 feb 10.5—–3479——-101 mar 12——-3860——-102 apr 9———3098——-104 may 9.5——3225——-105 jun 10.25—3416——-106
question: Use the hi-lo method o calculate the cost per unit in June’s prices
the hi is march and lo is april. is the question asking to adjust costs to june index? how do we do it?