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Recall Application 4, "The Introduction of Cell Phones and the Bias in the CPI," to answer the following questions:
-Why were cellphones not included in the CPI basket immediately after it was introduced?
Expectations
Beliefs about what will happen in the future, often based on experience, understanding, or projections.
Performance
The act of executing a task or function, or the process of performing; often measured against preset known standards of accuracy, completeness, speed, and efficiency.
Race
A social construct used to categorize humans into large and distinct populations or groups by heritable physical characteristics, geographical ancestry, culture, history, and language.
Gender
Pertains to the social, cultural, and personal traits and roles associated with being male or female, going beyond the biological differences.
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