The following table shows the price of a specific stereo receiver for a five-year period. Using year 2003 as the base year, calculate the price index for each year. Now use year 2000. What is the difference?
Year Price Price index
2000 $ 166 ___
2001 $200 ___
2003 $240 ___
2004 $264 ___
2005 $280 ___