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The Consumer Price Index (CPI) is a measure of the average change in price over time from a designated reference period, at which it equals 100. The index is based on prices of basic consumer goods and services. The table provided lists the CPI for several years from 1960 to 2012. If the price change in cars parallels the change in the CPI, what would a car sell for (to the nearest dollar) in 2012 if a comparable model sold for $9,500 in 1999? Year CPI 1960 29.6 1973 44.4 1986 109.6 1999 156.9 2012 229.6 In 2012, a car would sell for approximately $ 20486 (Round to the nearest dollar.)

The Consumer Price Index (CPI) is a measure of the average change in price over time from a designated reference period, at which it equals 100. The index is based on prices of basic consumer goods and services. The table provided lists the CPI for several years from 1960 to 2012. If the price change in cars parallels the change in the CPI, what would a car sell for (to the nearest dollar) in 2012 if a comparable model sold for $9,500 in 1999? Year CPI 1960 29.6 1973 44.4 1986 109.6 1999 156.9 2012 229.6 In 2012, a car would sell for approximately $ 20486 (Round to the nearest dollar.)

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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The Consumer Price Index (CPI) is a measure of the average change in price over time from a designated reference period, at which it equals 100. The index is based on prices of basic consumer goods and services. The table provided lists the CPI for several years from 1960 to 2012. If the price change in cars parallels the change in the CPI, what would a car sell for (to the nearest dollar) in 2012 if a comparable model sold for $9,500 in 1999? Year CPI 1960 29.6 1973 44.4 1986 109.6 1999 156.9 2012 229.6 In 2012, a car would sell for approximately $ 20486 (Round to the nearest dollar.)
Transcribed Image Text:The Consumer Price Index (CPI) is a measure of the average change in price over time from a designated reference period, at which it equals 100. The index is based on prices of basic consumer goods and services. The table provided lists the CPI for several years from 1960 to 2012. If the price change in cars parallels the change in the CPI, what would a car sell for (to the nearest dollar) in 2012 if a comparable model sold for $9,500 in 1999? Year CPI 1960 29.6 1973 44.4 1986 109.6 1999 156.9 2012 229.6 In 2012, a car would sell for approximately $ 20486 (Round to the nearest dollar.)
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