Construct the Index of Average Weekly Earnings of Australian Male

Essay

Construct the index of average weekly earnings of Australian male employees for the period
2012-2016, using the data in the following table. Use 2012 as the base year. Average weekly earnings of Australian
male employees, May 2012-May 2016
$\begin{array}{|c|c|}\hline {\text { Year }} & \text { Earnings (\$) } \\\hline 2012 & 1538.10 \\\hline 2013 & 1603.70 \\\hline 2014 & 1650.60 \\\hline 2015 & 1679.30 \\\hline 2016 & 1696.60 \\\hline\end{array}$ Source: Australian Bureau of Statistics, Australian Economic Indicators, ABS Cat. No. 6302.0, ABS, Canberra.