Concept explainers
Consumer Price Index The following graph shows the approximate value of the U.S. Consumer Price Index (CPI) from July 2005 through March 2006:
CPI July 2005-Mar 2006
The approximating curve shown on the figure is given by
a. Locate the intercepts, extrema, and points of inflection of the curve, and interpret each feature in terms of the CPI. (Approximate all coordinates to one decimal place.) [HINT: See Example 1.]
b. Recall from Section 12.2 that the inflation rate is defined to be
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Chapter 12 Solutions
Finite Mathematics and Applied Calculus (MindTap Course List)
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