Concept explainers
Fan Cost Index. The cost of attending a Major League baseball game is summarized by the Fan Cost Index (FCI), which according to its originators is the price of four adult average-price tickets, two small draft beers, four small soft drinks, four regular hot dogs, parking, Iwo programs, and two caps. The following table shows the 2016 FCI for several Major League teams and the Major League average.
Team | FCI |
Boston | $360.66 |
New York (Yankees) | $337.20 |
Chicago (Cubs) | $312.32 |
Colorado | $193.96 |
San Diego | $182.82 |
Arizona | $132.10 |
Major League average | $219.53 |
a. The FCI values arc given in dollars; so is the FCI really an "index”? Explain.
b. Consider an index n which the reference value is the 2016 Major League FCI average; that is, set this value equal to 13. Then revise the above table so that all values are expressed In terms of this Index.
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Using & Understanding Mathematics: A Quantitative Reasoning Approach (7th Edition)
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