Question 2: Inflation in Canada [20 marks] In this question you will be analyzing how inflation in Canada, as measured by CPI growth, has changed over time. (DATA SET BELOW).

a. Create a timeplot for the inflation data. Summarize the changes in the inflation measure in Canada over time. Do some background research to provide context for particularly high or low inflation years. [10 marks]

b. Provide the 5 number summary for the inflation data. Are any of the particularly high or low years statistical outliers? [5 marks]

c. Create a boxplot. Comment on the graph. [5 marks]

Dataset

Year,"Inflation, CPI (%)" 1960,1.358695652 1961,1.018766756 1962,1.061571125 1963,1.628151261 1964,1.912144703 1965,2.332657201 1966,3.815659068 1967,3.579952267 1968,4.055299539 1969,4.561558902 1970,3.346039814 1971,2.704918033 1972,4.988028731 1973,7.487647282 1974,10.99717115 1975,10.6721886 1976,7.54173863 1977,7.976445396 1978,8.973723352 1979,9.144676979 1980,10.12922051 1981,12.47161241 1982,10.7689719 1983,5.86358803 1984,4.304778304 1985,3.962030541 1986,4.194786291 1987,4.356108712 1988,4.028234149 1989,4.9836219 1990,4.780476933 1991,5.625864086 1992,1.490132904 1993,1.865079365 1994,0.165562914 1995,2.148760331 1996,1.570531125 1997,1.621216381 1998,0.995942457 1999,1.734842951 2000,2.719439957 2001,2.52512014 2002,2.258394409 2003,2.758563214 2004,1.857258719 2005,2.213552034 2006,2.002025395 2007,2.138383993 2008,2.370270674 2009,0.299466803 2010,1.776871541 2011,2.912135089 2012,1.515678231 2013,0.938291898 2014,1.906635907 2015,1.125241361 2016,1.428759547 2017,1.596884129 2018,2.268225672 2019,1.949269024 2020,0.716999632 2021,3.395193185