Question
The average price ofgasoline in 2005 was $2.31 per gallon. In 1993, the average price was $1.07. The average annual rate of increase in the
The average price ofgasoline in 2005 was $2.31 per gallon. In 1993, the average price was $1.07. The average annual rate of increase in the price of gasoline over this 12-year period is 6.62%. If we assume that the price of gasoline will continue to inflate at this rate, how long will it be before we are paying $6.62 per gallon?
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Statistics The Art And Science Of Learning From Data
Authors: Alan Agresti, Christine A. Franklin
3rd Edition
9780321849281, 321755944, 321849280, 978-0321755940
