Concept explainers
Inflation The following graph shows the approximate value of the U.S. Consumer Price Index (CPI) from September 2004 through November 2005:
CPI Sep 2004-Nov 2005
The approximating curve shown on the figure is given by
where t is time in months since the start of December 2004.
a. Use the model to estimate the monthly inflation rate in July 2005
b. Was inflation slowing or speeding up in July 2005?
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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