The table shows the consumer price index (CPI) every 5 years from 1955 to 2005. Year...
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The table shows the consumer price index (CPI) every 5 years from 1955 to 2005. Year CPI 1955 16.8 1960 18.5 1965 20.0 1970 24.2 1975 34.5 1980 52.4 1985 75.0 1990 93.3 1995 104.2 2000 113.5 2005 127.3 Source: Statistics Canada, CANSIM Table 326-0002. a) Determine the average rate of change in the CPI from 1955 to 2005. b) Estimate the instantaneous rate of change in the CPI for i) 1965 ii) 1985 iii) 2000 The table shows the consumer price index (CPI) every 5 years from 1955 to 2005. Year CPI 1955 16.8 1960 18.5 1965 20.0 1970 24.2 1975 34.5 1980 52.4 1985 75.0 1990 93.3 1995 104.2 2000 113.5 2005 127.3 Source: Statistics Canada, CANSIM Table 326-0002. a) Determine the average rate of change in the CPI from 1955 to 2005. b) Estimate the instantaneous rate of change in the CPI for i) 1965 ii) 1985 iii) 2000
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Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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