Additional Problems: need letter D and #2 1. Respond to all parts of the following problem (this is a sample test question) – you only need a sentence where one is specifically requested. The parts here correspond to the parts in the annotated example.The American Community Survey collects income information in the US. In 2015 persons aged 25 and over with a Bachelor’s degree had annual median earnings of $50,595, while in 2017reported annual median earnings at this level of education was $52,019.a) Find the relative change in annual median earnings for persons aged 25 and over with a Bachelor’s degree between 2015 and 2017. Round your answer to the nearest .1%.b) Find the rate of inflation from 2015 to 2017, rounded to the nearest .1%.c) Meaningfully compare the percent increase in annual median earnings for persons aged 25 and over with a Bachelor’s degree to the rate of inflation between 2015 and 2017. Respond with a well written contextual sentence directed to a general audience (use the term rate of inflation). d) If annual median earnings for these persons had risen at the rate of inflation for the period 2015 – 2017, what would the median earnings have been in 2017? Use 3 significant digits and carefully state the implied meaning.2. To keep up with inflation, what should a standard 25 cent first class postage stamp from 1991 cost in 2019? As always round money to the nearest penny. Put your answer in a contex
Additional Problems:
need letter D and #2
1. Respond to all parts of the following problem (this is a sample test question) – you only need a
sentence where one is specifically requested. The parts here correspond to the parts in the
annotated example.
The American Community Survey collects income information in the US. In 2015 persons aged
25 and over with a Bachelor’s degree had annual median earnings of $50,595, while in 2017
reported annual median earnings at this level of education was $52,019.
a) Find the relative change in annual median earnings for persons aged 25 and over with a
Bachelor’s degree between 2015 and 2017. Round your answer to the nearest .1%.
b) Find the rate of inflation from 2015 to 2017, rounded to the nearest .1%.
c) Meaningfully compare the percent increase in annual median earnings for persons aged 25
and over with a Bachelor’s degree to the rate of inflation between 2015 and 2017. Respond
with a well written contextual sentence directed to a general audience (use the term rate of
inflation).
d) If annual median earnings for these persons had risen at the rate of inflation for the period
2015 – 2017, what would the median earnings have been in 2017? Use 3 significant digits and
carefully state the implied meaning.
2. To keep up with inflation, what should a standard 25 cent first class postage stamp from 1991 cost
in 2019? As always round money to the nearest penny. Put your answer in a contex
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