47. Given the following data : Weekly take-home pay (wages) Consumer price index Year 109.50 112.8 2012 2013 112.20 118.2 2014 116.40 127.4 2015 125.08 138.2 2016 135.40 143.5 2017 138.10 149.8 () What was the real average weekly wage for each year ? (i) In which year did the employees have the greatest buying power ? (ii) What percentage increase in the weekly wages for the year 2017 is required (if any) to provide the same buying power that the employees enjoyed in the year in which they had the highest real wages ?
47. Given the following data : Weekly take-home pay (wages) Consumer price index Year 109.50 112.8 2012 2013 112.20 118.2 2014 116.40 127.4 2015 125.08 138.2 2016 135.40 143.5 2017 138.10 149.8 () What was the real average weekly wage for each year ? (i) In which year did the employees have the greatest buying power ? (ii) What percentage increase in the weekly wages for the year 2017 is required (if any) to provide the same buying power that the employees enjoyed in the year in which they had the highest real wages ?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section: Chapter Questions
Problem 8SGR
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