The basic tution fee for studetns living in the district in 2003 was $32 per credit hour. In $2016 it is $67 per credit hour. (a) Find the overall inflation rate from 2003 to 2016. (b) Find the percent increase in tuition from 2003 to 2016. (c) Can the tuition increase over this time period be explained by Inflation or was it significantly more or less than the inflation rate?

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The basic tution fee for studetns living in the district in 2003 was $32 per credit hour. In $2016 it is $67 per credit hour. (a) Find the overall inflation rate from 2003 to 2016. (b) Find the percent increase in tuition from 2003 to 2016. (c) Can the tuition increase over this time period be explained by Inflation or was it significantly more or less than the inflation rate?

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a. According to BLS, the overall inflation between 2003 and 2016 is 30.91%

b. The percentage change in tuition between 2003 and 2016 is 67-3232*100%=109.375%

c. It was significantly more than the inflation rate.

 

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