Concept explainers
The Consumer Price Index (CPI) provides a means of determining the purchasing power of the U.S. dollar from one year to the next. Using the period from 1982 to 1984 as a measure of 100.0, the CPI for selected years from 1999 through 2011 is shown in the table. To use the CPI to predict a price in a particular year, we set up a proportion and compare it with a known price in another year.
Year | Consumer Price Index |
1999 | 166.6 |
2001 | 177.1 |
2003 | 184.0 |
2005 | 195.3 |
2007 | 207.3 |
2009 | 214.5 |
2011 | 224.9 |
Source: U.S. Bureau of Labor Statistics. |
Use the CPI figures in the table to find the amount that would be charged for using the same amount of electricity that cost $225 in 1999. Give answers to the nearest dollar.
in 2011
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Beginning and Intermediate Algebra (6th Edition)
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