The Consumer Price Index (CPI) tracks the prices of consumer goods in the United States, as shown
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The Consumer Price Index (CPI) tracks the prices of consumer goods in the United States, as shown in the following table. The CPI is reported monthly, but we can look at selected values. The table shows the January CPI at five-year intervals. It indicates, for example, that the average item costing $17.90 in 1926 cost $220.22 in the year 2011.
b) Be an economic forecaster: Project increases in the cost of living over the next decade. Justify decisions you make in creating your model.
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Related Book For
Stats Data And Models
ISBN: 662
4th Edition
Authors: Richard D. De Veaux, Paul D. Velleman, David E. Bock
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