Business Analytics, Loose-leaf Edition (3rd Edition)
3rd Edition
ISBN: 9780135231692
Author: James R. Evans
Publisher: PEARSON
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Question
Chapter 3, Problem 2PE
To determine
To create a line chart showing the growth in the annual CPI.
Expert Solution & Answer
Explanation of Solution
Given:
The Consumer price index excel file data is as follows:
| Consumer Price Index - All Urban Consumers | Bureau of Labor Statistics | |||||||||||
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
| 2000 | 169.300 | 170.000 | 171.000 | 170.900 | 171.200 | 172.200 | 172.700 | 172.700 | 173.600 | 173.900 | 174.200 | 174.600 |
| 2001 | 175.600 | 176.000 | 176.100 | 176.400 | 177.300 | 177.700 | 177.400 | 177.400 | 178.100 | 177.600 | 177.500 | 177.400 |
| 2002 | 177.700 | 178.000 | 178.500 | 179.300 | 179.500 | 179.600 | 180.000 | 180.500 | 180.800 | 181.200 | 181.500 | 181.800 |
| 2003 | 182.600 | 183.600 | 183.900 | 183.200 | 182.900 | 183.100 | 183.700 | 184.500 | 185.100 | 184.900 | 185.000 | 185.500 |
| 2004 | 186.300 | 186.700 | 187.100 | 187.400 | 188.200 | 188.900 | 189.100 | 189.200 | 189.800 | 190.800 | 191.700 | 191.700 |
| 2005 | 191.600 | 192.400 | 193.100 | 193.700 | 193.600 | 193.700 | 194.900 | 196.1000 | 198.800 | 199.100 | 198.100 | 198.100 |
| 2006 | 199.200 | 199.400 | 199.700 | 200.600 | 201.400 | 201.900 | 202.900 | 203.700 | 202.900 | 201.800 | 202.000 | 203.100 |
| 2007 | 203.372 | 204.258 | 205.312 | 205.959 | 206.850 | 207.202 | 207.651 | 207.671 | 208.503 | 209.073 | 210.740 | 211.434 |
| 2008 | 212.225 | 212.703 | 213.543 | 214.106 | 215.287 | 217.279 | 219.102 | 218.779 | 218.846 | 216.832 | 212.923 | 211.339 |
| 2009 | 211.959 | 212.877 | 212.643 | 212.810 | 213.050 | 214.558 | 214.774 | 215.566 | 215.911 | 216.357 | 216.859 | 217.224 |
| 2010 | 217.587 | 217.591 | 217.729 | 217.579 | 217.224 | 216.929 | 217.597 | 218.150 | ||||
Calculation:
Since, we have to show the line chart for the growth in annual CPI. Thus, we have to take the sum of the months yearly basis. We will use the formula for sum, such as,
=SUM(number1,[number2],...])
Thus the result will be as:
And the outcome will be:
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | CPI(Annualy) |
| 2000 | 169.300 | 170.000 | 171.000 | 170.900 | 171.200 | 172.200 | 172.700 | 172.700 | 173.600 | 173.900 | 174.200 | 174.600 | 2066.300 |
| 2001 | 175.600 | 176.000 | 176.100 | 176.400 | 177.300 | 177.700 | 177.400 | 177.400 | 178.100 | 177.600 | 177.500 | 177.400 | 2124.500 |
| 2002 | 177.700 | 178.000 | 178.500 | 179.300 | 179.500 | 179.600 | 180.000 | 180.500 | 180.800 | 181.200 | 181.500 | 181.800 | 2158.400 |
| 2003 | 182.600 | 183.600 | 183.900 | 183.200 | 182.900 | 183.100 | 183.700 | 184.500 | 185.100 | 184.900 | 185.000 | 185.500 | 2208.000 |
| 2004 | 186.300 | 186.700 | 187.100 | 187.400 | 188.200 | 188.900 | 189.100 | 189.200 | 189.800 | 190.800 | 191.700 | 191.700 | 2266.900 |
| 2005 | 191.600 | 192.400 | 193.100 | 193.700 | 193.600 | 193.700 | 194.900 | 196.1000 | 198.800 | 199.100 | 198.100 | 198.100 | 2343.200 |
| 2006 | 199.200 | 199.400 | 199.700 | 200.600 | 201.400 | 201.900 | 202.900 | 203.700 | 202.900 | 201.800 | 202.000 | 203.100 | 2418.600 |
| 2007 | 203.372 | 204.258 | 205.312 | 205.959 | 206.850 | 207.202 | 207.651 | 207.671 | 208.503 | 209.073 | 210.740 | 211.434 | 2488.025 |
| 2008 | 212.225 | 212.703 | 213.543 | 214.106 | 215.287 | 217.279 | 219.102 | 218.779 | 218.846 | 216.832 | 212.923 | 211.339 | 2582.964 |
| 2009 | 211.959 | 212.877 | 212.643 | 212.810 | 213.050 | 214.558 | 214.774 | 215.566 | 215.911 | 216.357 | 216.859 | 217.224 | 2574.588 |
| 2010 | 217.587 | 217.591 | 217.729 | 217.579 | 217.224 | 216.929 | 217.597 | 218.150 | 1740.386 |
Then, we will construct the line chart by selecting the last column of CPI (annually) of the sums of the months year wise and then go to the insert button and then click on the line chart and the line chart is created,
The line chart is as follows:
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