The following table gives information on the Consumer Price Index and the monthly take-home pay of Bill

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The following table gives information on the Consumer Price Index and the monthly take-home pay of Bill Martin, an employee at Ford Motor Corporation, from 1982€“84 and 2012.

a. What is the purchasing power of the dollar in 2012, based on the period 1982€“84?
b. Determine Mr. Martin€™s €œreal€ monthly income for2012.

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Statistical Techniques in Business and Economics

ISBN: 978-0078020520

16th edition

Authors: Douglas Lind, William Marchal

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Question Posted: Dec 10, 2014 09:27 AM

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The following table gives information on the Consumer Price Index and the monthly take-home pay of Bill

Question:

Consumer Price Index Mr. Martin's Monthly Take-Home Pay (N82-84 = 100) 1982-34 2012 100.0 229.594 600 2,000

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Statistical Techniques in Business and Economics

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