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Cost of a typical package of consumer goods

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Reference no: EM131172675

Suppose that the consumer price index (CPI), which measures the cost of a typical package of consumer goods, stood at 133.5 in 1990 and 153.5 in 2000. Let x =0 corresponds to 1990 and estimate the CPI in 1995 and 2005. 

(Assume that the data can be modeled by a straight line.)

Which linear equation best models the CPI?

a.)   y= -2x + 133.5

b)    y= 2x - 133.5

c)    y= 2x + 133.5

In 1995, the CPI would be approximately?

In 2005, the CPI would be approximately?

Reference no: EM131172675

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