# Understanding the Consumer Price Index (CPI)A Consumer Price Index (CPI) is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically. It basically tells us the changes in prices over time (i.e., inflation). ## What does the following graph tell us? **[Select all that apply]**### **12-month percentage change, Consumer Price Index, selected categories, June 2020**![Graph](source)The graph displays the 12-month percentage change in the Consumer Price Index (CPI) for selected categories as of June 2020. The categories along with their respective percentage changes over the 12 months are:- **Apparel**: Observes approximately a -7% change.- **New vehicles**: Experiences a slight increase, suggesting a small positive change close to 0%.- **Used cars and trucks**: Shows a decrease nearing -1%.- **Medical care commodities**: Reports a positive change, approaching 1%.- **Alcoholic beverages**: Has a small positive change, around 1%.- **Tobacco and smoking products**: Records the highest increase, with an approximate 6% rise.### **Possible Interpretations:**- **Now may be a good time to buy clothing or a new/used car.**- **Medical care is increasing in prices.**- **People are spending more on alcohol and tobacco/smoking products.**- **We all just want to have a good time.****Source**: U.S. Bureau of Labor StatisticsHover over the chart to view specific data.---This information can be useful to understand how different categories of consumer goods have changed in price over a year, providing insights into inflation and cost-of-living adjustments that may be needed.

From the given information we find correct Option.

Answered: A Consumer Price Index (CPI) is a…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

1. Compare the results of the Paasche versus the Laspeyres Index for the year 1984?
49. In a survey of 694 workers, 61% said that they got their jobs through networking. Use the CPI to answer the following. Average Annual Consumer Price Index (CPI) (1982 - 1984 = 100) CPI 1989 124.0 2001 177.1 1990 130.7 2002 179.9 Year CPI Year Year CPI 1976 56.9 1977 60.6 1978 65.2 1991 136.2 2003 184.0 1979 72.6 1980 82.4 1981 90.9 1982 96.5 1995 152.4 2007 207.3 1983 99.6 1996 156.9 2008 215.3 1984 103.9 1997 160.5 2009 214.5 1985 107.6 1998 163.0 2010 218.1 1986 109.6 1999 166.6 2011 224.9 1987 113.6 2000 172.2 2012 229.6 1988 118.3 1992 140.3 2004 188.9 1993 144.5 2005 195.3 1994 148.2 2006 201.6 Use 1983 as 100. 50. If you spent $11,600 for goods, services, and housing in 2011, what would the same purchases have cost in 1995? 51. If you spent $11,600 for goods, services, and housing in 1995, what would the same purchases have cost in 2011?
The following data correspond to the rates of return or return of one of the stock market indices during the period 2016 to 2019. Year Performance 2019 23.5 2018 -38.5 2017 3.5 2016 13.6 Find the geometric mean for the data for this index.
The rate of return for the last 19 years of a certain segment of the stock market is given in the table. (The data is also provided below the table as a comma-separated list to make it easier to copy.) Market Segment Rate of Return, 2002-2020 Year Rate of Return (%) 2020 3.23 2019 6.14 2018 11.39 2017 15.99 2016 3.24 2015 -3.86 2014 -1.04 2013 8.49 2012 5.93 2011 6.96 2010 1.98 2009 3.13 2008 -6.55 2007 7.27 2006 3.02 2005 -1.34 2004 7.28 2003 6.27 2002 -0.76 Rate of Return (%): 3.23, 6.14, 11.39, 15.99, 3.24, -3.86, -1.04, 8.49, 5.93, 6.96, 1.98, 3.13, -6.55, 7.27, 3.02, -1.34, 7.28, 6.27, -0.76 Find the 34th percentile of the data. 6.46
4) The table shows, for the years 1997–2012, the mean hourly wage for residents of the town of Pity Me and the mean weekly rent paid by the residents. Mean hourly wage (dollars) Mean hour. Mean weekly rent (dollars) Mean weekly rent (dollars) Year Year (dollar 116 1997 57 10.38 2005 28.99 59 113 1998 10.89 2006 28.63 2007 1999 62 11.96 112 36.75 14.55 2000 63 12.46 2008 86 17.90 2001 86 17.72 2009 90 2002 2010 119 28.07 90 14.67 131 35.24 2003 2011 17.97 100 122 2004 2012 22.23 31.87 115 Find the least squares line that uses mean hourly wage to predict mean weekly rent. Round values to the nearest ten-thousandth. Include a scatter plot with the regression lino
Review the following line graph. 0.90 0.80 0.70 0.60 0.50 0.40 0.30 0.20 0.10 0.00 9/94 0.61 34% 10/95 © 2019 StrongMind A line graph of Total Good (in decimals) and Total Bad (in percents). 63% The broken scale is not properly shown on the x-axis. O The graph is not labeled properly. 0.30 9/05 58% 0.38 4/07 77% 0.21 1/09 72% 0.22 9/09 -Total Good 72% 0.23 1/10 Total Bad 71% 0.26 11/11 52% 0:44 7/13 0.57 40% 12/14 0.74 24% 7/16 0.70 26% 9/17 ANB News polled people in the United States from September 1994 to September 2017. They asked: "In general, do you think your school system is totally good or totally bad?" How is this chart misleading? O The timeline moves from right to left. O The scale is too big on the y-axis.
Find the values at the 35th and 70th percentiles for the data set. 15 14 17 8 10 1 6 1 20 18 18 5 14 5 12 18 1 17 5 7
Suppose that a company's annual sales were $1,200,000 in 1999. The annual growth rate of sales from 1999 to 2000 was 16%, from 2000 to 2001 was -5%, and from 2001 to 2002 was 22%.The geometric mean growth rate of sales over this three-year period is calculated as 10.37%. Use the geometric mean growth rate and determine the forecasted sales for 2004.A. 1,780,678B. 1,200,014C. 1,965,337D. 1,613,371E. 1,422,197
From the data given below construct the quantity index number for the current year using arithmetic mean under the weighted relative method. Base Year Current Year Commodity Price Quantity Price Quantity M 2 40 50 4 50 8. 40 20 9. 30 P 8. 10 6. 20 Q 10 10 5 20
48. From the data given below, calculate seasonal indices for I, II, III and IV quarters assuming the trend is absent : Quarter Year 2014 2015 2016 2017 2013 41 45 44 40 42 35 36 38 35 37 II 38 36 38 38 39 II 40 41 42 IV 40 38
From the data given below, compute price index numbers using (i) weighted arithmetic average of price relatives, (ii) weighted geometric mean of price relatives. Group Prices in 2010 () .) Prices in 2013 ) Weights Food 100 90 30 Rent 20 20 15 Clothing 70 60 20 Fuel Others 20 15 10 40 55 25
(a) Define measures of centrai tendency and measures of dispersion. Classify them.

SEE MORE QUESTIONS

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

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

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

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

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

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

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS