The percentage change in the consumer price index (CPI) is widely used as a gauge of inflation. The following numbers show the percentage change in the average CPI for the years 1993 through 2007:

(a) Using time as the horizontal axis and CPI as the vertical axis, construct a trend graph showing how the CPI moved during this period. Comment on the trend.

(b) Calculate the mean, standard deviation, and median of the CPI.

(c) Calculate the inner and outer fences, and use this to say whether there are any outliers in this data.

(d) Construct a box plot of the CPI values, and comment on the shape of the distribution.

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3.0 2.6 2.8 3.0 2.3 1.6 2.2 3.4 2.8 1.6 2.3 2.7 3.4 3.2 2.8