MYLAB MATH WITH PEARSON ETEXT FOR MATHEM

6th Edition

ISBN: 9780136470137

Author: Pirnot

Publisher: PEARSON

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Textbook Question

Chapter 8.2, Problem 47E

The Consumer Price Index (CPI) is a measure of inflation obtained by comparing current prices with base prices in 1982–84. We can find the inflation rate for a given time period by calculating the percent of change in the CPI over that time period. For example, the CPI in 2005 was 195.3 and in 2009 it was 214.5, so the inflation rate was 214.5 − 195.3 195.3 ≈ 0.098 = 9.8 % . Use the given graph to do Exercises 47–50. Your answers may vary slightly due to rounding.

Chapter 8.2, Problem 47E, The Consumer Price Index CPI is a measure of inflation obtained by comparing current prices with

Effect of inflation on the cost of sneakers.

a. Calculate the inflation rate from 1990 to 2015.

b. If a pair of sneakers cost $83 in 1990, use the inflation rate from part (a) to estimate the cost of the sneakers in 2015.

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Chapter 8.2, Problem 46E

Chapter 8.2, Problem 48E

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Chapter 8 Solutions

MYLAB MATH WITH PEARSON ETEXT FOR MATHEM

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Solution Summary: The author calculates the inflation rate for a given time period by calculating the percent of change in CPI.

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