6th Edition

ISBN: 9780134434681

Author: Tom Pirnot

Publisher: PEARSON

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Binomial Distribution

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Textbook Question

Chapter 8.2, Problem 50E

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 50E, The Consumer Price Index CPI is a measure of inflation obtained by comparing current prices with

Effect of inflation on the cost of jeans.

a. Calculate the inflation rate from 1990 to 2015.

b. If a pair of jeans cost $80 in 2015, use the inflation rate from part (a) to estimate what the cost of jeans would have been in 1990.

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Chapter 8.2, Problem 49E

Chapter 8.2, Problem 51E

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Chapter 8 Solutions

Mathematics All Around (6th Edition)

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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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