Concept explainers
Tofind the overall inflation rate for the year.
Answer to Problem 37E
The overall inflation rate is
Explanation of Solution
Given information:
The following table records the annual inflation rate as measured each month for
Formula:
The area of an individual trapezoidal is
From given
The area each and every month is calculated to be the summation of all the months,
Taking average by diving the sum of the areas by the number of trapezoids,
Therefore, the overall inflation rate is
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