MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Assume that people spend 30 percent of their income on food, 45 percent on housing, and 25
percent on transportation. Assume that 2020 is the base year, and use the table below to
compute the Consumer Price Index (CPI) for 2021:
Year
2020
2021
Price of Price of
Food
Housing
$100
$200
$120
$210
Multiple Choice
23
100
116
156.5
Price of
Transportation
$100
$150
Cost of the
Basket
$145
$168
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Transcribed Image Text:Assume that people spend 30 percent of their income on food, 45 percent on housing, and 25 percent on transportation. Assume that 2020 is the base year, and use the table below to compute the Consumer Price Index (CPI) for 2021: Year 2020 2021 Price of Price of Food Housing $100 $200 $120 $210 Multiple Choice 23 100 116 156.5 Price of Transportation $100 $150 Cost of the Basket $145 $168
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