Consider the following Average earnings index (AEI) with 1987 as a base year.Year19871990199319961999ΑΕΙ100117114124149If a worker earned $151 in 1990, how much do they need to be paid in 1999 to have keptpace with the average earnings index? (2 d.p.)

So, the amount to be paid to the workers in 1999 is $192.3Explanation:Given,Earnings in 1990:…

Answered: Consider the following Average earnings…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Consider the following Average earnings index (AEI) with 1987 as a base year. Year 1987 1990 1993 1996 1999 ΑΕΙ 100 117 114 124 149 If a worker earned $151 in 1990, how much do they need to be paid in 1999 to have kept pace with the average earnings index? (2 d.p.)