Survey Of 40 Students
| PRODUCTS (9 ITEMS) | POPULARITY OF PRODUCT | PRICE RANGE OF ITEMS |
| TOILETRIES | 39 | $3.50-$200 |
| ROOM IMPROVEMENT | 26 | $0-$400 |
| FOOD | 40 | $2-$250 |
| ENTERTAINMENT | 27 | $0-$2000 |
| ALCOHOL | 20 | $0-$500 |
| CIGARETTES | 12 | $0-$150 |
| LAUNDRY | 22 | $0-$30 |
| TUITION | 27 | $0-$30768 |
| UNIFORM | 27 | $0-$2000 |
The costs of the products listed below are the average cost based on our survey. The survey was based on a selection of products that are consumed by most California Maritime Academy students. Forty California Maritime Academy students took the survey. The products listed below are consumed on a monthly basis except tuition and uniforms which are paid on a yearly basis.
| ITEMS | COST |
| Toiletries (Body wash, Shampoo, Toothpaste, etc.) | $27.20 | Monthly |
| Room Improvement | $96 | Monthly |
| Food (Bought off campus, fast food, etc.) | $54.85 | Monthly |
| Entertainment (Movies, Games, Rentals) | $99.22 | Monthly |
| Alcohol | $99.27 | Monthly |
| Cigarettes | $19.62 | Monthly |
| Laundry | $12.01 | Monthly |
| Tuition | $7,074.64 | Yearly |
| Uniform | $1,069.62 | Yearly |
The calculation of our consumer price index (CPI) is based on the month of October hence, making October the base month. This was done by calculating the average of all the products mentioned in our survey. We did thisbecause the CPI (consumer price index) isa measure that examines the weighted average of prices of a basket of consumer goods and services.
| ITEM | CALCULATION | COST |
| Toiletries (Body wash, Shampoo, Toothpaste, etc.) | $27.20 * 1 | $27.20 |
| Room Improvement | $96 * 1 | $96 |
| Food (Bought off campus, fast food, etc.) | $54.85 * 1 | $54.85 |
| Entertainment (Movies, Games, Rentals) | $99.22 * 1 | $99.22 |
| Alcohol | $99.27 * 1 | $99.27 |
| Cigarettes | $19.62 * 1 | $19.62 |
| Laundry | $12.01 * 1 | $12.01 |
| Tuition | $7,074.64 * 1/8 | $884.33 |
| Uniform | $1,069.62 * 1 | $1,069.62 |
| Total Expenditure | $2,362.12 |
Possible sources of error that can be found in our consumer price index are we could have received invalid information from the survey. Uniform costs also differ based on your major; if you are an international, in-state, out of state student. Tuition costs can also differ based on the same reasons as uniforms. Another source of error is that our survey was limited to only forty students.
License track students pay a much steeper rate than a student majoring in Global Studies or Business in both uniform and tuition. Global Studies and Business student do not have to worry about paying Coast Guard fees, while for Deck and Engineering students those are necessary costs. The variations in tuition leave room open for error. International students' tuition is much higher than that of out of state students and in state students; hence we could have surveyed too many in state students resulting in a lower average cost.
The fact that our survey was limited to only 40 students at California Maritime Academy makes it a very possible error. We could have surveyed students who spend a lot of money on liquor and not on cigarettes or vice versa resulting in an error in calculating our consumer price index.It is extremely difficult or probably impossible to calculate consumer price index (CPI) without any errors one can only approximate.
To compensate for the potential errors we can survey all the students at California Maritime Academy. We can create a more advance survey that includes student majors and what tuition they are paying international, in state or out of state. Rather than getting the cost of tuition and uniform from the students we can retrieve that information from accounts.
