Solution-Using the consumer price index cpi what was the

Using the consumer price index cpi what was the purchasing

Assignment Help Basic Statistics

Reference no: EM13579400

The take home pay of Cody and the CPI for 2007 and 2004 were:

Take-Home CPI

Year Pay (2005 = 100)

2004 $25,190.00 91.7

2007 $40,977.00 108.5

For full marks your answer should be accurate to at least two decimal places.

a) What was Cody's real income in 2004?

b) What was his real income in 2007?

c) Using the Consumer Price index (CPI), what was the purchasing power of the dollar in 2007?

Reference no: EM13579400

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Using the consumer price index cpi what was the purchasing

Reference no: EM13579400

Reference no: EM13579400

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