The cost of college. Here are data on the average tuition and fees charged bypublic

Chapter 0, Problem 1.12

(choose chapter or problem)

The cost of college. Here are data on the average tuition and fees charged bypublic four-year colleges and universities for the 1976 to 2005 academic years.Because almost any variable measured in dollars increases over time due toinflation (the falling buying power of a dollar), the values are given in constantdollars, adjusted to have the same buying power that a dollar had in 2005.12Year Tuition Year Tuition Year Tuition Year Tuition1976 $2,059 1984 $2,274 1992 $3,208 2000 $3,9251977 $2,049 1985 $2,373 1993 $3,396 2001 $4,1401978 $1,968 1986 $2,490 1994 $3,523 2002 $4,4081979 $1,862 1987 $2,511 1995 $3,564 2003 $4,8901980 $1,818 1988 $2,551 1996 $3,668 2004 $5,2391981 $1,892 1989 $2,617 1997 $3,768 2005 $5,4911982 $2,058 1990 $2,791 1998 $3,8691983 $2,210 1991 $2,987 1999 $3,894(a) Make a time plot of average tuition and fees.(b) What overall pattern does your plot show?(c) Some possible deviations from the overall pattern are outliers, periods ofdecreasing charges (in 2005 dollars), and periods of particularly rapid increase.Which are present in your plot, and during which years?