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2. Take the first method for calculating costs above. Say that the fixed basket of school supplies includes • One box of pencils ($5 in 2004 and $10 in 2024) • Two spiral notebooks ($10 each in 2004, $15 each in 2024) • One calculator ($20 in 2004, $25 in 2024) • One ruler ($2 in 2004, $5 in 2024) a. Calculate the percentage increase in the cost of school supplies using the first method. (5 points) b. Say the cost of this basket in 2004 was the true cost of school supplies during that year. However, when you ask students in 2024, they say that the cost of school supplies this year was $55. Compare this cost to the cost using the same basket from 2004. What could have happened that made this cost differ? (5 points)

          2. Take the first method for calculating costs above. Say that the fixed basket of school supplies includes 
• One box of pencils ($5 in 2004 and $10 in 2024)
• Two spiral notebooks ($10 each in 2004, $15 each in 2024)
• One calculator ($20 in 2004, $25 in 2024)
• One ruler ($2 in 2004, $5 in 2024)
a. Calculate the percentage increase in the cost of school supplies using the first method. (5 points)
b. Say the cost of this basket in 2004 was the true cost of school supplies during that year. However, when you ask students in 2024, they say that the cost of school supplies this year was $55. Compare this cost to the cost using the same basket from 2004. What could have happened that made this cost differ? (5 points)

Added by Michael H.

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