3. Adjusting for inflation Consider golfers who led the Professional Golfers' Association of America (PGA) in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation). To convert the original earnings of Casper, Miller, and Pavin, use the formula for converting dollar figures from an earlier era into today's (year 2000) U.S. dollars. Using those figures, fill in the following table, making sure to round your responses to the nearest U.S. dollar. Nominal Winnings U.S. CPI Year Golfer (Dollars) (1983 = 100) Winnings in 2000 Dollars 1968 Billy Casper 205,169 34.8 1974 Johnny Miller 353,022 49.3 1991 Corey Pavin 979,430 136.2 2000 Tiger Woods 9,188,321 172.2 9,188,321 True or False: According to the previous table, the golfer with the highest PGA winnings in nominal dollars is not the same as the golfer with the highest PGA winnings after adjusting for inflation. True O False3. Adjusting for inflation Consider golfers who led the Professional Golfers' Association of America (PGA) in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation). To convert the original earnings of Casper, Miller, and Pavin, use the formula for converting dollar figures from an earlier era into today's (year 2000) U.S. dollars. Using those figures, fill in the following table, making sure to round your responses to the nearest U.S. dollar. Nominal Winnings U.S. CPI Year Golfer (Dollars) (1983 = 100) Winnings in 2000 Dollars 1968 Billy Casper 205,169 34.8 1974 Johnny Miller 353,022 49.3 1,191 1991 Corey Pavin 979,430 136.2 2000 Tiger Woods 9,188,321 172.2 41,463 1,015,233 True or False: According to the previous table, the golfer with the highest in nominal dollars is not the same as the golfer with the highest PGA winnings after adjusting for inflation. 1,020,233 O True 35,330,102 O False3. Adjusting for inflation Consider golfers who led the Professional Golfers' Association of America (PGA) in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation). To convert the original earnings of Casper, Miller, and Pavin, use the formula for converting dollar figures from an earlier era into today's (year 2000) U.S. dollars. Using those figures, fill in the following table, making sure to round your responses to the nearest U.S. dollar. Nominal Winnings U.S. CPI Year Golfer (Dollars) (1983 = 100) Winnings in 2000 Dollars 1968 Billy Casper 205,169 34.8 1974 Johnny Miller 353,022 49.3 1991 Corey Pavin 979,430 136.2 2,050 2000 Tiger Woods 9,188,321 172.2 101,068 True or False: According to the previous table, the golfer with the highest 1,148,071 in nominal dollars is not the same as the golfer with the highest PGA winnings after adjusting for inflation. 1,233,071 O True 60,790,388 O False3. Adjusting for inflation Consider golfers who led the Professional Golfers' Association of America (PGA) in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation). To convert the original earnings of Casper, Miller, and Pavin, use the formula for converting dollar figures from an earlier era into today's (year 2000) U.S. dollars. Using those figures, fill in the following table, making sure to round your responses to the nearest U.S. dollar. Nominal Winnings U.S. CPI Year Golfer (Dollars) (1983 = 100) Winnings in 2000 Dollars 1968 Billy Casper 205,169 34.8 1974 Johnny Miller 353,022 49.3 1991 Corey Pavin 979,430 136.2 2000 Tiger Woods 9,188,321 172.2 5,688 True or False: According to the previous table, the golfer with the highest 774,671 n nominal dollars is not the same as the golfer with the highest PGA winnings after adjusting for inflation. 1,238,310 O True 1,243,310 O False 168,657,846
