The March 2000 CPI (1982--84 = 100) was 171 but the component of the CPI for tel

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The March 2000 CPI (1982--84 = 100) was 171 but the component of the CPI for television sets was 52. There were great improvement in quality and features in television sets between 1982--84 and 2000. We can say that:
Answer  
the actual average price of television sets in 2000 was only 52% of the average price in 1982--84
   the actual average price of television sets in 2000 was 171% of the average price in 1982--1984
   if a television set sold for $100 in 1982--1984, that same set would sell for only $52 in 2000
   both (a)and (c) are correct

In addition to the national CPIs, the BLS publishes separate CPIs for 29 large metropolitan areas. These local CPIs are considerably less precise (that is, they have considerably more sampling variation). This is because
Answer   
of variation in prices among these metropolitan areas
   the monthly CPI sample size within each metropolitan area is much smaller than the national sample size
   the monthly CPI sample sizes within the metropolitan areas are not proportional to their population sizes
   the metropolitan areas are not randomly selected
   of variation weather conditions among these metropolitan areas

It means that H.H. Gregg will reduce its price by 200% It means that H.H. Gregg will reduce its price to one-third of what it was It makes perfectly good sense, as long as the other store’s price is at least half of H.H. Gregg’s price. It’s nonsense, because refunding 100 percent of the difference already reduces the cost to zero It’s nonsense because percents only make sense for counts, and the price of an appliance isn’t a count

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