Xr03-41 Refer to Example 3.5. The following table lists the average gasoline consumption in miles per gallon
Question:
Xr03-41 Refer to Example 3.5. The following table lists the average gasoline consumption in miles per gallon (MPG) and the average distance (thousands of miles) driven by cars in each of the years 1980 to 2006. (The file contains the average price for each year, the annual CPI, fuel consumption and distance
(thousands).) For each year calculate the inflationadjusted cost per year of driving. Use a graphical technique to present the results.
Year 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 MPG 13.3 13.6 14.1 14.2 14.5 14.6 14.7 15.1 15.6 15.9 Distance 9.5 9.5 9.6 9.8 10.0 10.0 10.1 10.5 10.7 10.9 Year 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 MPG 16.4 16.9 16.9 16.7 16.7 16.8 16.9 17.0 16.9 17.7 Distance 11.1 11.3 11.6 11.6 11.7 11.8 11.8 12.1 12.2 12.2 Year 2000 2001 2002 2003 2004 2005 2006 MPG 16.9 17.1 16.9 17.0 17.1 17.2 17.1 Distance 12.2 11.9 12.2 12.2 12.2 12.1 12.4 Source: Statistical Abstract of the United States, 2009, Tables 1061 and 1062.
Step by Step Answer:
Statistics For Management And Economics
ISBN: 9781133420774
9th Edition
Authors: Gerald Keller, Kenneth C Louden