Actuaries are analysts who specialize in the mathematics of risk. Actuaries often work for insurance companies and

Question:

Actuaries are analysts who specialize in the mathematics of risk. Actuaries often work for insurance companies and are responsible for setting premiums for insurance policies. Below are the median salaries for actuaries and the yearly CPI for four years. Use the CPI to deflate the salary data to constant dollars. Comment on the salary when viewed in constant dollars.

Year Annual Median Salary ($1000) CPI 1 84,810 215.3 87,210 87,650 91,060 214.5 218.1 4 224.9