Consumer Price Index . The consumer price index (CPI), compiled by the U.S. Depa
ID: 3240978 • Letter: C
Question
Consumer Price Index. The consumer price index (CPI), compiled by the U.S. Department of Labor, determines the price today of $100 worth of food, clothing, housing, fuel, and so on in 1987
Year
CPI
2002
$289
2003
297
2004
308
2005
320
2006
333
2007
348
2008
363
1. Find the average change in the consumer price index from
a. 2003 to 2005
b. 2006 to 2008
2. Profit Functions. A company lists its profit function as
P(x) = 8x - 0.02x^2 - 500
a. Graph the function.
b. Find the average rate of change in profit from x = 100 to x = 200.
c. Write a sentence interpreting part b.
d. Interpret part b on the graph in part a.
Year
CPI
2002
$289
2003
297
2004
308
2005
320
2006
333
2007
348
2008
363
Explanation / Answer
According to chegg policy , i am answering it 1st question.
the average change in the consumer price index
a) 2003-2005 = (CPI(2005) - CPI(2003))/(2005-2003)
= (320 - 297)/2 = 23/2 = 11.5
b) 2006 to 2008
(CPI(2008) - CPI(2006))/(2008-2006)
= (363 - 333)/2 = 15
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