Here is some information about a professor salary index (PSI).

(a) Calculate the unknown quantities a, b, c, d, e in me table. Review Equation 14..:3.
(b) What is the base year of the PSI? How did you determine it?
(c) Given the data for the PSI, calculate the average annual price increase in salaries paid to professors for between 1991 and 1995 and between 1992 and 1998.

Transcribed Image Text:

Year PS Change in PSI 3.22% 8.50 89 100 1993 4.00 1995 07 1996 116 1997 1998 132 5.17 7.58 1