The cost of a college education in the United States is rising at a rate faster than inflation. The following table shows the average cost of a college education in the United States during the academic year that began in 2014 and the academic year that began in 2015 for public and private colleges. Assume the costs listed in the table are the only costs experienced by the various college students in a single year.

a. Calculate the cost of living for an average college student in each category for 2014 and 2015.

b. Calculate an inflation rate for each type of college student between 2014 and 2015.

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Cost of college education during academic year beginning 2014 (averages in 2014 dollars) Tuition and Room and Books and Other fees board supplies expenses Two-year public college: $3,161 $7,810 $1,378 $3,809 commuter Four-year public college: 8,199 9,495 1,250 3,203 in-state, on-campus Four-year public college: 22,203 9,495 1,250 3,203 out-of-state, on-campus