Can someone please help me solve this Lapeyres statistics problem?

Posted on 2017-04-17 21:43:00 in Statistics by JOSH

Listed below are producer price indices for four important types of raw materials used in the manufacturing of automobiles, recorded for January of four years.  
2009 
steel=125.6 plastic=218.8 synthetic rubber=224.0 aluminum=164.3 
2015 
steel=134.6 plastic=289.1 synthetic rubber=235.9 aluminum=182.1 
  
Now consider an automobile that is constructed using 326 pounds of steel, 96 pounds of plastic, 208 pounds of synthetic rubber and 520 pounds of aluminum.  There are obviously other raw materials used in manufacturing, but you should ignore them in this problem. 
Using 2009 as the base year compute a Laspeyres price index for this automobile in 2015.  State your answer where 100.00 is the price index in the base year, using two decimals for the answer.  Of course, Canvas will synthetically pad this with extra zeros. 
  
I know that the Laspeyres formula is (WeightedSumCurrentPrices/WeightedSumPas... but I can t figure out how to get the weighted totals.

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