The average price of tuition and fees at public 4-year colleges and universities increased from $1,790 in 1991 to $6,900 in 2010. Calculate the relative change in price from 1991 to 2010 and compare it to the overall rate of inflation as measured by the Consumer Price Index. Average tuition and fees in public 4-year colleges and universities increased by %. (Round to the nearest integer as needed.)
The average price of tuition and fees at public 4-year colleges and universities increased from $1,790 in 1991 to $6,900 in 2010. Calculate the relative change in price from 1991 to 2010 and compare it to the overall rate of inflation as measured by the Consumer Price Index. Average tuition and fees in public 4-year colleges and universities increased by %. (Round to the nearest integer as needed.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:The average price of tuition and fees at public 4-year colleges and universities
increased from $1,790 in 1991 to $6,900 in 2010. Calculate the relative change in
price from 1991 to 2010 and compare it to the overall rate of inflation as measured
by the Consumer Price Index.
Average Annual Consumer Price Index (CPI) (1982-1984=100)
Year
CPI
Year
CPI
Year
CPI
1976
2001
56.9
60.6
1989
1990
124.0
177.1
1977
130.7
2002
179.9
184.0
188.9
195.3
1978
1979
65.2
1991
136.2
2003
Average tuition and fees in public 4-year colleges and universities increased by
72.6
1992
1993
140.3
%.
2004
2005
2006
1980
82.4
144.5
148.2
152.4
(Round to the nearest integer as needed.)
1981
90.9
1994
201.6
207.3
215.3
214.5
1982
1983
96.5
1995
2007
99.6
1996
156.9
2008
103.9
107.6
1984
1997
160.5
2009
1985
1986
1987
2010
1998
1999
218.1
224.9
229.6
163.0
109.6
166.6
2011
113.6
2000
172.2
2012
1988
118.3
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