The consumer price index (CPI)is a measure of the relative cost of goods in a country for a particular year.The table below shows the CPI for various years beginning in 1940.
a)Re-express the CPI by taking the log of the data,then plot the re-expressed data as a scatterplot.
b)Determine the regression equation and correlation coefficient for the re-expressed data.
c)Use your model from part (b)to predict the CPI in 2010.

Question

The consumer price index (CPI)is a measure of the relative cost of goods in a country for a particular year.The table below shows the CPI for various years beginning in 1940.  
a)Re-express the CPI by taking the log of the data,then plot the re-expressed data as a scatterplot.  
b)Determine the regression equation and correlation coefficient for the re-expressed data.
c)Use your model from part (b)to predict the CPI in 2010.

Quizplus · Accepted Answer

The Answer of The consumer price index (CPI)is a measure of the relative cost of goods in a country for a particular year.The table below shows the CPI for various years beginning in 1940.  
a)Re-express the CPI by taking the log of the data,then plot the re-expressed data as a scatterplot.  
b)Determine the regression equation and correlation coefficient for the re-expressed data.
c)Use your model from part (b)to predict the CPI in 2010.

The Consumer Price Index (CPI)is a Measure of the Relative