The Consumer Price Index (CPI) is a measure of the average change in price over time from a designated

Advanced Engineering Mathematics
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Author:Erwin Kreyszig
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Question 10, 1.1.51-BE
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Equations and Inequalities
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
%$412,500 in 1999?
Year
CPI
096
1973
44.4
1986
156.9
2012
229.6
In 2012, a car would sell for approximately $
(Round to the nearest dollar.)
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Transcribed Image Text:ME History Bookmarks Profiles Tab Window Help Do Homework - Ch 1.1 - Linear Equations and Inequalities mathxl.com/Student/PlayerHomework.aspx?homeworkld%3D615915268&questionld%313&flushed%3Dtrum Question 10, 1.1.51-BE く Equations and Inequalities 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 %$412,500 in 1999? Year CPI 096 1973 44.4 1986 156.9 2012 229.6 In 2012, a car would sell for approximately $ (Round to the nearest dollar.) Tutoring Help me solve this Get more help Media Clea
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