Answered: Year JanCPI Year JanCPI 1916 10.4 1966…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Inflation 2011 The Consumer Price Index (CPI) tracks
the prices of consumer goods in the United States, as
shown in the following table. The CPI is reported
monthly, but we can look at selected values. The table
shows the January CPI at five-year intervals. It indicates,
for example, that the average item costing $17.90 in 1926
cost $220.22 in the year 2011.a) Make a scatterplot showing the trend in consumer
prices. Describe what you see.
b) Be an economic forecaster: Project increases in the
cost of living over the next decade. Justify decisions
you make in creating your model.

Year
JanCPI
Year
JanCPI
1916
10.4
1966
31.8
1921
19.0
1971
39.8
1926
17.9
1976
55.6
1931
15.9
1981
87.0
1936
13.8
1986
109.6
1941
14.1
1991
134.6
1946
18.2
1996
154.4
1951
25.4
2001
175.1
1956
26.8
2006
198.3
1961
29.8
2011
220.223

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