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In 1936, the cost of a Hershey's chocolate bar was 5 cents. In 1980, the cost of a Hershey's chocolate bar was 25 cents. By comparison, the CPI-U in 1936 was 13.9, and the CPI-U in 1980 was 82.4. (Remember that the Consumer Price Index for Urban consumers (CPI-U) shows how the prices for goods and services change over time for people living in cities.) From 1936 to 1980, how did the price of the Hershey bar change compare to the change in CPI-U? Be sure to include the relative increase of each in your answer. Year 1936 1980 Cost of a Hershey Bar (in Cents) 5 25 CPI-U (Consumer Price Index for Urban Consumers) 13.9 82.4

In 1936, the cost of a Hershey's chocolate bar was 5 cents. In 1980, the cost of a Hershey's chocolate bar was 25 cents. By comparison, the CPI-U in 1936 was 13.9, and the CPI-U in 1980 was 82.4. (Remember that the Consumer Price Index for Urban consumers (CPI-U) shows how the prices for goods and services change over time for people living in cities.) From 1936 to 1980, how did the price of the Hershey bar change compare to the change in CPI-U? Be sure to include the relative increase of each in your answer. Year 1936 1980 Cost of a Hershey Bar (in Cents) 5 25 CPI-U (Consumer Price Index for Urban Consumers) 13.9 82.4

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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In 1936, the cost of a Hershey's chocolate bar was 5 cents. In 1980, the cost of a Hershey's chocolate bar was 25 cents. By comparison, the CPI-U in 1936 was 13.9, and the CPI-U in 1980 was 82.4. (Remember that the Consumer Price Index for Urban consumers (CPI-U) shows how the prices for goods and services change over time for people living in cities.) From 1936 to 1980, how did the price of the Hershey bar change compare to the change in CPI-U? Be sure to include the relative increase of each in your answer. Year 1936 1980 Cost of a Hershey Bar (in Cents) 5 25 CPI-U (Consumer Price Index for Urban Consumers) 13.9 82.4
Transcribed Image Text:In 1936, the cost of a Hershey's chocolate bar was 5 cents. In 1980, the cost of a Hershey's chocolate bar was 25 cents. By comparison, the CPI-U in 1936 was 13.9, and the CPI-U in 1980 was 82.4. (Remember that the Consumer Price Index for Urban consumers (CPI-U) shows how the prices for goods and services change over time for people living in cities.) From 1936 to 1980, how did the price of the Hershey bar change compare to the change in CPI-U? Be sure to include the relative increase of each in your answer. Year 1936 1980 Cost of a Hershey Bar (in Cents) 5 25 CPI-U (Consumer Price Index for Urban Consumers) 13.9 82.4
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