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Paster BIU -A Conditional Format Formatting as Table Styes Merge & Center Cell 017 H G M N P C 1 Consumer Price Index-All Urban Consumers 2 Original Data Value This problem uses Consumer Price index (CPO data from the U.S. Bureau of Labor Statistics (RES) from 1913 to 2015, Note the vears may be hidden, scral to go all the way back to 1913 31 Series Id: CULROOD0SAO s Not Seasonally Adjusted Area US oy average 7 em Base Pariod Years All Rem 1982-84-100 1913 to 2015 Raso 10 Cost of Annual Inflation f This Year CPI: Previous Year CP Dec Annual Phone 6s Novw Oct Aug Sep Mar May Jun Jul Apr Feb Year Jan 11 9.90 10.0 10.0 10.1 10.0 9.9 99 9.8 9.7 9.8 9.8 9.8 12 1913 10.0 10 10.3 10.2 10.2 10.1 10.2 10.0 9.8 9.9 9.9 9.9 10.0 13 1914 10.1 10.9 10 2 103 10.1 10.1 10.1 10.1 10.0 10.1 10.0 9.9 10.1 14 1915 11.6 11.5 11.3 10.9 11.1 10.8 19.7 10.8 10.5 10.6 10.4 10.4 12 8 15 1916 13.5 13. 13.5 13.3 13.0 13.0 12.8 12.6 12.8 12.0 12.0 11.7 16.5 18.9 16 1917 15.1 16.3 16.0 15.4 15.7 15.1 14 5 14.7 142 14.0 14.1 17 1918 14.0 17.3 18.5 18.1 17.8 17.7 16.9 17 4 16.9 16.7 16.4 16.21 20.0 17.9 16.5 19.4 18 1919 19.9 19 8 20.0 203 20.8 20.9 20.6 20.3 19.7 19.5 17.3 19.30 174 19 1920 17.5 17.5 17.7 17.7 17.7 17.6 18.3 18.1 16.8 19.0 18.4 16.8 16.9 16.7 20 1921 16.6 16.6 16.8 16.7 16.7 16.7 16.7 17.1 16.9 17.3 169 17.3 17.3 21 1922 17.2 17.1 172 17.0 16.9 16.9 16.8 17.1 16.8 17.2 17.3 16.8 17.2 17.1 17.0 22 1923 17.1 17.0 17.0 17.0 17.5 17.1 17.9 17.2 17.7 18.0 17.3 17.7 17.7 23 1924 17.7 17.5 17.3 17.2 17 . 17.3 17.3 1n7 17.2 17.6 17.3 17.5 174 24 1925 17.5 17.7 17.8 17.9 17.4 17.8 17.3 17.9 17.3 17.9 17.3 17.4 17.2 17.3 25 1926 17.6 17.4 17.1 17.3 17.1 17.3 17.2 17.4 17.2 17.5 17.3 17.1 26 1927 17.1 17.1 17.2 17.25 171 17.1 17.3 17.1 17.3 17.1 17.3 17.3 17.3 17.3 16.7 27 1928 17.1 17.0 16.9 16.1 17.0 16.4 16.5 17.1 16.6 17.1 16.5 16.6 28 1929 16.8 16.9 15.2 14.6 17.0 14 7 16.9 17.0 14.9 15.0 17.1 15.1 15.1 29 1930 15.1 13.7 15.3 15.5 13.1 13.2 15.6 13.30 15.7 134 15.9 13.5 13.6 13.6 30 1939 13.0 13.7 13.2 13.9 13.2 14.0 13.2 14.1 13.2 14.3 13.21 13.1 1932 12.7 13.4 12.6 134 126 13.5 12.6 13.5 13.6 12.7 12.9 13.4 13.4 13.7 32 1933 13.4 13.3 13.8 13.8 13.3 13.7 13.3 13 3 13.7 13.7 13.2 13.7 13.7 13.9 33 1934 14.0 13.8 13.7 13.8 14.0 14.0 14.0 13.7 14.0 13.6 13.9 13.8 14.4 34 1935 14.4 13.7 14.5 13.7 13.7 14.6 14.6 13.8 14 5 13.8 14.5 a5 1936 36 1937 14.1 14.4 14.0 14.4 14.0 14.3 14.0 14.2 14 1 14.1 14.1 14.1 14.1 13.9 14.0 14.1 14.1 14.0 14.2 140 14.1 14.1 14.1 13.8 14.2 13.8 14.0 13.8 14.1 14.0 37 1938 13.8 13.8 14.0 13.9 14.0 13.9 14.0 14.0 14.0 14.0 14.1 15.5 1939 39 1940 14.1 14.0 15.4 14.0 15.3 14.0 15.1 14.9 16 2 13 9 14.7 14.7 16. 16 B 14 4 14.3 16.7 14 2 16.5 14.1 16.5 16.4 14 1 16.3 16.3 40 1941 16.1 16.0 15.7 15.8 41 1942 47E 04 CP AA AB AC AD AE AG a.) Use the annual CPI values to convert the given cost of an iPhone 6s in 20155 into every other years dollars. Assuming the iPhone 6s existed back then of Course. How did people communicate without cell phanes? b.) Take the ratio of each vear's annual CPI to the previous value and scale the second quantity to 1 by simply dividing the two values. Note: parts ce belowl Rate c.) Compute the annual inflation rate by subtracting 1 percentage to 2 decimal places the ratio from part c. Format as d.) in what year did inflation increase the most? Note there is a way to get Excel to do this for you First find MAX annual inflation rate. Then use MATCH to find which value this is in the column for inflation rates: 1,2,3 Then you can use INDEX to pull the year from this row, or just find it yourself Max inflation year Does inflation always increase from year to year? Answer should be yes of no. e.) Always up? Paster BIU -A Conditional Format Formatting as Table Styes Merge & Center Cell 017 H G M N P C 1 Consumer Price Index-All Urban Consumers 2 Original Data Value This problem uses Consumer Price index (CPO data from the U.S. Bureau of Labor Statistics (RES) from 1913 to 2015, Note the vears may be hidden, scral to go all the way back to 1913 31 Series Id: CULROOD0SAO s Not Seasonally Adjusted Area US oy average 7 em Base Pariod Years All Rem 1982-84-100 1913 to 2015 Raso 10 Cost of Annual Inflation f This Year CPI: Previous Year CP Dec Annual Phone 6s Novw Oct Aug Sep Mar May Jun Jul Apr Feb Year Jan 11 9.90 10.0 10.0 10.1 10.0 9.9 99 9.8 9.7 9.8 9.8 9.8 12 1913 10.0 10 10.3 10.2 10.2 10.1 10.2 10.0 9.8 9.9 9.9 9.9 10.0 13 1914 10.1 10.9 10 2 103 10.1 10.1 10.1 10.1 10.0 10.1 10.0 9.9 10.1 14 1915 11.6 11.5 11.3 10.9 11.1 10.8 19.7 10.8 10.5 10.6 10.4 10.4 12 8 15 1916 13.5 13. 13.5 13.3 13.0 13.0 12.8 12.6 12.8 12.0 12.0 11.7 16.5 18.9 16 1917 15.1 16.3 16.0 15.4 15.7 15.1 14 5 14.7 142 14.0 14.1 17 1918 14.0 17.3 18.5 18.1 17.8 17.7 16.9 17 4 16.9 16.7 16.4 16.21 20.0 17.9 16.5 19.4 18 1919 19.9 19 8 20.0 203 20.8 20.9 20.6 20.3 19.7 19.5 17.3 19.30 174 19 1920 17.5 17.5 17.7 17.7 17.7 17.6 18.3 18.1 16.8 19.0 18.4 16.8 16.9 16.7 20 1921 16.6 16.6 16.8 16.7 16.7 16.7 16.7 17.1 16.9 17.3 169 17.3 17.3 21 1922 17.2 17.1 172 17.0 16.9 16.9 16.8 17.1 16.8 17.2 17.3 16.8 17.2 17.1 17.0 22 1923 17.1 17.0 17.0 17.0 17.5 17.1 17.9 17.2 17.7 18.0 17.3 17.7 17.7 23 1924 17.7 17.5 17.3 17.2 17 . 17.3 17.3 1n7 17.2 17.6 17.3 17.5 174 24 1925 17.5 17.7 17.8 17.9 17.4 17.8 17.3 17.9 17.3 17.9 17.3 17.4 17.2 17.3 25 1926 17.6 17.4 17.1 17.3 17.1 17.3 17.2 17.4 17.2 17.5 17.3 17.1 26 1927 17.1 17.1 17.2 17.25 171 17.1 17.3 17.1 17.3 17.1 17.3 17.3 17.3 17.3 16.7 27 1928 17.1 17.0 16.9 16.1 17.0 16.4 16.5 17.1 16.6 17.1 16.5 16.6 28 1929 16.8 16.9 15.2 14.6 17.0 14 7 16.9 17.0 14.9 15.0 17.1 15.1 15.1 29 1930 15.1 13.7 15.3 15.5 13.1 13.2 15.6 13.30 15.7 134 15.9 13.5 13.6 13.6 30 1939 13.0 13.7 13.2 13.9 13.2 14.0 13.2 14.1 13.2 14.3 13.21 13.1 1932 12.7 13.4 12.6 134 126 13.5 12.6 13.5 13.6 12.7 12.9 13.4 13.4 13.7 32 1933 13.4 13.3 13.8 13.8 13.3 13.7 13.3 13 3 13.7 13.7 13.2 13.7 13.7 13.9 33 1934 14.0 13.8 13.7 13.8 14.0 14.0 14.0 13.7 14.0 13.6 13.9 13.8 14.4 34 1935 14.4 13.7 14.5 13.7 13.7 14.6 14.6 13.8 14 5 13.8 14.5 a5 1936 36 1937 14.1 14.4 14.0 14.4 14.0 14.3 14.0 14.2 14 1 14.1 14.1 14.1 14.1 13.9 14.0 14.1 14.1 14.0 14.2 140 14.1 14.1 14.1 13.8 14.2 13.8 14.0 13.8 14.1 14.0 37 1938 13.8 13.8 14.0 13.9 14.0 13.9 14.0 14.0 14.0 14.0 14.1 15.5 1939 39 1940 14.1 14.0 15.4 14.0 15.3 14.0 15.1 14.9 16 2 13 9 14.7 14.7 16. 16 B 14 4 14.3 16.7 14 2 16.5 14.1 16.5 16.4 14 1 16.3 16.3 40 1941 16.1 16.0 15.7 15.8 41 1942 47E 04 CP AA AB AC AD AE AG a.) Use the annual CPI values to convert the given cost of an iPhone 6s in 20155 into every other years dollars. Assuming the iPhone 6s existed back then of Course. How did people communicate without cell phanes? b.) Take the ratio of each vear's annual CPI to the previous value and scale the second quantity to 1 by simply dividing the two values. Note: parts ce belowl Rate c.) Compute the annual inflation rate by subtracting 1 percentage to 2 decimal places the ratio from part c. Format as d.) in what year did inflation increase the most? Note there is a way to get Excel to do this for you First find MAX annual inflation rate. Then use MATCH to find which value this is in the column for inflation rates: 1,2,3 Then you can use INDEX to pull the year from this row, or just find it yourself Max inflation year Does inflation always increase from year to year? Answer should be yes of no. e.) Always up