1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
N76 [4]
3 years ago
10

The Consumer Price Index​ (CPI) is a measure of the change in the cost of goods over time. If 1982 is used as the base year of c

omparison in some country, (CPI =100 in​ 1982), then the CPI of 191.2 in 2006 would indicate that an item that cost $ 1.00 in 1982 would cost $ 1.91 in 2006 in this country. It is known that the CPI in this country has been increasing at an approximately linear rate for the past 30 years.
a. Use this information to determine a linear function for this​ data, letting x be the years since 1982.

b. Based on your​ function, what was the CPI in​ 2000? Compare this estimate to the actual CPI of 167.5 for this country.

c. How is the annual CPI​ changing?
Mathematics
1 answer:
Mashcka [7]3 years ago
3 0

Answer:

a) y = 3.8 x +100

b) Abs. change= |168.4-167.5|=0.9

So the calculated value is 0.9 points above the actual value.

Relative. Change =\frac{|168.4 -167.5|}{167.5}x100 =0.537%

And the calculated value it's 0.537% higher than the actual value.

c) For this case we can use the slope obtained from the linear model to answer this question, and we can conclude that the CPI is increasing at approximate 3.8 units per year.

Step-by-step explanation:

Data given

1982 , CPI=100

1986, CPI = 191.2

Notation

Let CPI the dependent variable y. And the time th independent variable x.

For this case we want to adjust a linear model givn by the following expression:

y=mx+b

Solution to the problem

Part a

For this case we can find the slope with the following formula:

m =\frac{CPI_{2006}-CPI_{1982}}{2006-1982}

And if we replace we got:

m =\frac{191.2-100}{2006-1982}=3.8

Let X represent the number of years after. Then for 1982 t = 0, and if we replace we can find b:

100 = 3.8(0)+b

And then b=100

So then our linear model is given by:

y = 3.8 x +100

Part b

For this case we need to find the years since 1982 and we got x = 2000-1982=18, and if we rpelace this into our linear model we got:

y = 3.8(18) +100=168.4

And the actual value is 167.5 we can compare the result using absolute change or relative change like this:

Abs. change= |168.4-167.5|=0.9

So the calculated value is 0.9 points above the actual value.

And we can find also the relative change like this:

Relative. Change =\frac{|Calculated -Real|}{Real}x100

And if we replace we got:

Relative. Change =\frac{|168.4 -167.5|}{167.5}x100 =0.537%

And the calculated value it's 0.537% higher than the actual value.

Part c

For this case we can use the slope obtained from the linear model to answer this question, and we can conclude that the CPI is increasing at approximate 3.8 units per year.

You might be interested in
35 POINTS. I need help! Please!
topjm [15]
There is no solution  for the first one

if you eliminate y   you get 2 equations
-13x - 13z = -25
-13x - 13x = -15    

- there is no solution to theses

a23  means the element in the second  row and the 3rd column

so its -5 
7 0
3 years ago
64. In a pond of 1,600 fish, 25% of the fish are trout. The remaining fish are bass. How fewer trout are there than bass?
Nina [5.8K]

Answer:

There are 400 trout and 1,200 of them are bass.

4 0
2 years ago
Read 2 more answers
Lets play a division game 3,072÷32
mario62 [17]

3,072 ÷ 32 = 96

Hope this helps

6 0
2 years ago
Read 2 more answers
A student randomly guesses at 10 multiple choice questions. Each question has four possible answers with only one being correct,
dlinn [17]
I would just assume <span>a) find the probability that the student guesses EXACTLY 4 correct.

</span>
8 0
3 years ago
Describe a real world situation in which a data set has two data values with a mean absolute deviation equal to 5 units.
Sophie [7]
Sharon runs a screen-printing business.to print t-shirt each day,it costs her $200 in labor plus $5 per t-shirt for materials.her income is $15 for each t-shirt she sells.how many t-shirts does sharon need to
Sell each day in order for her coast to equal her income for that day?
5 0
2 years ago
Other questions:
  • I need help with these, can someone help?
    7·1 answer
  • Am I correct on #13? ONLY REAL ANSWRS OR YOULL GET REPORTED
    14·1 answer
  • Let f(x)= 100 / −10+ e^ −0.1x . What is f(−6) ?
    10·1 answer
  • BRAINLIST TO FIRST ANSWER
    12·2 answers
  • Which ratio is NOT equivalent to the other choices?
    9·1 answer
  • If I have 297 dogs but 5 wolves came and toke 131. How many are left?
    9·2 answers
  • Anyone ....?<br><br><br><br><br> ?asap....
    12·1 answer
  • 12
    7·1 answer
  • If the two solids have the same volume and height, find the area of one of the cross sections. A. 18 cm B. 36 cm C. 48 cm? D. 72
    13·2 answers
  • A cake has two layers. Each layer
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!