Table 3 shows the actual per liter prices for unleaded petrol for June of each year between 1978 and 1986, together with the values of CPIS for those years in the US. Year Petrol price (USD/liter) CPI (1978 = 1.00) Inflation rate (%) Relative change 1978 0.663 0.652 1979 0.901 0.726 1980 1.269 0.824 1981 1.391 0.909 1982 1.309 0.965 1983 1.277 0.996 1984 1.229 1.039 1985 1.241 1.076 1986 0.955 1.136 (a) (b) Calculate the inflation rate and the change in relative price of petrol from 1979 onwards. Explain whether the changes in petrol prices are due to general inflation or to other
Table 3 shows the actual per liter prices for unleaded petrol for June of each year between 1978 and 1986, together with the values of CPIS for those years in the US. Year Petrol price (USD/liter) CPI (1978 = 1.00) Inflation rate (%) Relative change 1978 0.663 0.652 1979 0.901 0.726 1980 1.269 0.824 1981 1.391 0.909 1982 1.309 0.965 1983 1.277 0.996 1984 1.229 1.039 1985 1.241 1.076 1986 0.955 1.136 (a) (b) Calculate the inflation rate and the change in relative price of petrol from 1979 onwards. Explain whether the changes in petrol prices are due to general inflation or to other
Chapter6: Exponential And Logarithmic Functions
Section6.8: Fitting Exponential Models To Data
Problem 3TI: Table 6 shows the population, in thousands, of harbor seals in the Wadden Sea over the years 1997 to...
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Pls provide the formula of "Relative Change".
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