Consider golfers who led the Professional Golfers' Association of America (PGA) in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation).

To convert the original earnings of Nicklaus, Miller, and Norman, use the formula for converting dollar figures from an earlier era into year 2010 U.S. dollars Using those figures, fill in the following table, making Sure to round your responses to the nearest U.S. dollar.

True or False: According to the previous table, the golfer with the highest PGA winnings in nominal dollars is not the same as the golfer with the highest PGA Winnings after adjusting for inflation.

? True

? False

Transcribed Image Text:

Year Golfer 1965 Jack Nicklaus 1974 Johnny Miller 1986 Greg Norman 2010 Tiger Woods Nominal Winnings (Dollars) 140,752 353,022 653,296 20,508,163 U.S. CPI (1983 = 100) Winnings in 2010 Dollars 31.5 49.3 109.6 224.9 20,508,163 Year Golfer 1965 Jack Nicklaus 1974 Johnny Miller 1986 Greg Norman 2010 Tiger Woods Nominal Winnings (Dollars) 140,752 353,022 653,296 20,508,163 U.S. CPI (1983 = 100) Winnings in 2010 Dollars 31.5 49.3 109.6 224.9 20,508,163

Answer rating: 100% (QA)

Golfer Winnings in 2010 Dollars Jack N... View the full answer