The following graph shows the approximate value of the United States Consumer Price Index (CPI) from December 2006 through July 2007. On the graph titled "CPI Dec 2006-July 2007," the horizontal axis is labeled t and the vertical axis is labeled I(t). The curve begins at the point (0, 202), goes up and right becoming more steep, passes through the approximate point (3.5, 205.5), goes up and right becoming less steep, and ends at the approximate point (7, 208.7). The approximating curve shown on the figure is given by
The following graph shows the approximate value of the United States Consumer Price Index (CPI) from December 2006 through July 2007. On the graph titled "CPI Dec 2006-July 2007," the horizontal axis is labeled t and the vertical axis is labeled I(t). The curve begins at the point (0, 202), goes up and right becoming more steep, passes through the approximate point (3.5, 205.5), goes up and right becoming less steep, and ends at the approximate point (7, 208.7). The approximating curve shown on the figure is given by
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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The following graph shows the approximate value of the United States Consumer Price Index (CPI) from December 2006 through July 2007.
On the graph titled "CPI Dec 2006-July 2007," the horizontal axis is labeled t and the vertical axis is labeled I(t). The curve begins at the point (0, 202), goes up and right becoming more steep, passes through the approximate point (3.5, 205.5), goes up and right becoming less steep, and ends at the approximate point (7, 208.7).
The approximating curve shown on the figure is given by
I(t) = −0.04t3 + 0.4t2 + 0.1t + 202 (0 ≤ t ≤ 7),
where t is time in months since the start of December 2006.
(a)
Use the model to estimate the monthly inflation rate in January 2007 (t = 1).
Recall that the inflation rate is
.
(Round your answer to three decimal places.)
| I′(t) |
| I(t) |
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