Concept explainers
Inflation The following graph shows the approximate value of the United States Consumer Price Index (CPI) from December 2006 through July 2007:
CPI Dec 2006-July 2007
The approximating curve shown on the figure is given by
where t is time in months since the start of December 2006.
a. Use the model to estimate the monthly inflation rate in February 2007
b. Was inflation slowing or speeding up in February 2007?
c. When was inflation speeding up? When was inflation slowing? [HINT: See Example 3.]
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Chapter 5 Solutions
Applied Calculus
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