EBK STATISTICS FOR BUSINESS & ECONOMICS
EBK STATISTICS FOR BUSINESS & ECONOMICS
12th Edition
ISBN: 9780100460461
Author: Anderson
Publisher: YUZU
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Chapter 20.5, Problem 11E

The average hourly wage rate for construction laborers in 2001 was $13.36. In 2011 construction laborers made $16.43 per hour. The CPI for 2001 was 177.1 and for 2011, 224.9. Calculate the percentage increase or decrease in real hourly wages from 2001 to 2011.

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