Discuss how a business manager might use cpi statistics

Assignment Help Business Management

Reference no: EM131453942

Assignment: Inflation of the analysis

Purpose of Assignment

This assignment will introduce students to the U.S. Department of Labor's Bureau of Labor Statistics (BLS) data and provide students with the skills to calculate inflation and interpret the Consumer Price Index (CPI). Note: The BLS is the primary source of information on inflation, but their data is re-posted in other sources, such as the St. Louis Federal Reserve FRED site, among others.

Assignment Steps

Resources: Tutorial help on Excel and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.

Use an internet search or the University Library to locate information on the Consumer Price Index (CPI). Internet sites you might find useful include the Bureau of Labor Statistics (BLS) and the Federal Reserve of St. Louis FRED web site although you are allowed to use other sources.

Develop a minimum 700-word analysis of inflation by including the following:

• Choose a product or service you currently consume/use, such as apparel or educational services, that is included in the CPI's "market basket." Find the annual CPI index numbers for your chosen good or service for the years 1995, 2005, 2010, and 2015. Enter those index numbers in an Excel file and calculate the percent change (inflation rates) in those index numbers from 1995 to 2005, from 1995 to 2010, and from 1995 to 2015.

• Analyze the trends in overall inflation over the last five years and whether your income has kept pace with inflation. How has inflation over the last five years affected you and/or your family?

• Discuss how a business manager, such as a human resources manager, might use CPI statistics.

Cite a minimum of three scholarly, peer-reviewed references.

Format your paper consistent with APA guidelines.

Reference no: EM131453942

Questions Cloud

Determine the value of the process capability index : An automated tube bending operation produces parts with an included angle = 91.2°. The process is in statistical control. and the values of included angle.

Write a program that uses the brute-force approach : Write a program that uses the brute-force approach to count the number of inversions in the array - calculate the total weight and the total value of each subset in the powerset.

What proportion of parts fall outside the tolerance limits : In Problem, the design specification on the part is that the diameter = 30.000 ± 0.150 mm. What proportion of parts fall outside the tolerance limits?

Wide range of emerging business ethics issues : This clip on the HSBC money laundering scandal introduces students to a wide range of emerging business ethics issues, including lying, fraud.

Discuss how a business manager might use cpi statistics : Discuss how a business manager, such as a human resources manager, might use CPI statistics. Analyze the trends in overall inflation over the last five years.

Determine the process capability : A turning process is in statistical control and the output is normally distributed, producing parts with a mean diameter = 30.020 mm and a standard deviation.

What keys to success did the leader describe : What keys to success did the leader describe? What are your thoughts on the leader's response? How you could implement their thinking in your own career?

Which topics should be expanded in their duration why : Which topics should be expanded in their duration? Why? Which topics should be refreshed and included in continuing education of experienced officers? Why?

Explain police discretion to the citizens group : How would you fully explain police discretion to the citizens' group? How do you explain the fostering of good ethical decision making and discretion

User Account

All Pages