Introduction to Probability and Statistics
14th Edition
ISBN: 9781133103752
Author: Mendenhall, William
Publisher: Cengage Learning
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Chapter 3.2, Problem 3.6E
Consumer Price Index The price of living in the United States has increased dramatically in the past decade, as demonstrated by the consumer price indexes (CPIs) for housing and transportation. These CPI are listed in the table for the years 1996 through the first half of 2010.3
a. Create side-by-side comparative bar charts to describe the CPIs over time.
b. Draw two line charts on the same set of axes to describe the CPIs over time.
c. What conclusions can you draw using the two graphs in parts a and b? Which is the most effective?
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The Consumer Price Index provides a means of determining the purchasing power of the U.S. dollar from one year to the next. To use the Consumer Price Index to predict a price in a particular year, we can set up a proportion and compare it with a known price in another year as follows:(price in year A)/(index in year A)=(price in year B)/(index in year B)In 1986 the Consumer Price Index was 109.6 and in 2010 it was 218.1. Find the amount that would be charged in 2010 for the use of the same amount of electricity that cost $110 in 1986. Give your answer to the nearest dollar.
Chapter 3 Solutions
Introduction to Probability and Statistics
Ch. 3.2 - Gender Differences Male and female respond ents to...Ch. 3.2 - Prob. 3.2ECh. 3.2 - Consumer Spending The table below shows the...Ch. 3.2 - Prob. 3.4ECh. 3.2 - Prob. 3.5ECh. 3.2 - Consumer Price Index The price of living in the...Ch. 3.2 - Prob. 3.7ECh. 3.2 - Prob. 3.8ECh. 3.4 - Suppose that the relationship between two...Ch. 3.4 - Prob. 3.10E
Ch. 3.4 - A set of bivariate data consists of these...Ch. 3.4 - Prob. 3.12ECh. 3.4 - Consider this set of bivariate data: a. Draw a...Ch. 3.4 - Prob. 3.14ECh. 3.4 - Grocery Costs These data relating the amount spent...Ch. 3.4 - Prob. 3.16ECh. 3.4 - Prob. 3.17ECh. 3.4 - Prob. 3.18ECh. 3.4 - Prob. 3.19ECh. 3.4 - Prob. 3.20ECh. 3 - Prob. 3.21SECh. 3 - Cheese, Please! Health-conscious Americans often...Ch. 3 - Prob. 3.23SECh. 3 - Prob. 3.24SECh. 3 - Prob. 3.25SECh. 3 - Prob. 3.26SECh. 3 - Prob. 3.27SECh. 3 - Prob. 3.28SECh. 3 - Prob. 3.29SECh. 3 - Prob. 3.30SECh. 3 - Prob. 3.31SECh. 3 - Pottery, continued Here is the percentage of...Ch. 3 - Gestation Times and Longevity The table below...Ch. 3 - Prob. 3.34SECh. 3 - Armspan and Height Leonardo da Vinci (1452-1519)...Ch. 3 - Armspan and Height Leonardo da Vinci(14521519)...Ch. 3 - Prob. 3.37SECh. 3 - Prob. 3.38SECh. 3 - Prob. 3.39SECh. 3 - Rain and Snow Is there a correlation between the...Ch. 3 - Prob. 3.41SECh. 3 - Prob. 1CSCh. 3 - Prob. 2CSCh. 3 - Prob. 3CS
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