11. Wage Rate for Construction Workers. The average hourly wage rate for construction laborers in 2001 was $13.36. In 2017 construction laborers made $18.70 per hour. The CPI for 2001 was 177.1 and for 2017, 245.1. Calculate the percentage change in real Deflated 2001 wages: $ Deflated 2017 wages: $ (2017 / 2001) x 100 = The percentage increase in construction laborers' real wages is % (take to the first decimal place)

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
M5
11. Wage Rate for Construction Workers. The average hourly wage rate for construction laborers in 2001 was $13.36. In 2017
construction laborers made $18.70 per hour. The CPI for 2001 was 177.1 and for 2017, 245.1. Calculate the percentage change in real
Deflated 2001 wages: $
Deflated 2017 wages: $
(2017 / 2001) x 100 =
The percentage increase in construction laborers' real wages is
% (take to the first decimal place)
Transcribed Image Text:11. Wage Rate for Construction Workers. The average hourly wage rate for construction laborers in 2001 was $13.36. In 2017 construction laborers made $18.70 per hour. The CPI for 2001 was 177.1 and for 2017, 245.1. Calculate the percentage change in real Deflated 2001 wages: $ Deflated 2017 wages: $ (2017 / 2001) x 100 = The percentage increase in construction laborers' real wages is % (take to the first decimal place)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman