Consider golfers who led the PGA in winnings in different years. Note that the winnings are in the dollars earned in a particular year. The formula for converting dollars from one year to another is as follows: Adjusted Earnings = Original Earnings x Current Year Indez Original Year Indez Complete the following table by converting the original U.S. dollar earnings of Nicklaus, Trevino, and Norman to 2009 U.S. dollars. (Hint: Round your calculations up to the nearest U.S. dollar.) Year 1965 1970 1986 2009 Golfer Jack Nicklaus Lee Trevino Greg Norman Tiger Woods Nominal Winnings U.S. Dollars ($) U.S. CPI (1983 = 100) Winnings in 2009 U.S. Dollars ($) 31.5 38.8 109.6 214.5 140,752 157,037 653,296 10,508,163 10,508,163

Consider golfers who led the PGA in winnings in different years. Note that the winnings are in the dollars earned in a particular year. The formula for converting dollars from one year to another is as follows: Adjusted Earnings = Original Earnings x Current Year Indez Original Year Indez Complete the following table by converting the original U.S. dollar earnings of Nicklaus, Trevino, and Norman to 2009 U.S. dollars. (Hint: Round your calculations up to the nearest U.S. dollar.) Year 1965 1970 1986 2009 Golfer Jack Nicklaus Lee Trevino Greg Norman Tiger Woods Nominal Winnings U.S. Dollars ($) U.S. CPI (1983 = 100) Winnings in 2009 U.S. Dollars ($) 31.5 38.8 109.6 214.5 140,752 157,037 653,296 10,508,163 10,508,163

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 1.4CE

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