The Consumer Price Index (CPI) provides a means of determining the purchasing power of
Chapter 2, Problem 73(choose chapter or problem)
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 1995 through 2007 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:price in year Aindex in year A = price in year Bindex in year BUse 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 1995. Give your answer to the nearest dollarin 2003
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