A Part of the CPI Table Is Given Below Suppose That a Statistician's Salary Was $64000 in 1985

question 7

Multiple Choice

A part of the CPI table is given below: $$\begin{array} { | l | l | l | l | l | l | l | l | } \hline \text { Year } & 1975 & 1980 & 1985 & 1990 & 1995 & 2000 & 2005 \\\hline \text { CPI } & 53.8 & 82.4 & 107.6 & 130.7 & 152.4 & 172.2 & 195.3 \\\hline\end{array}$$ Suppose that a statistician's salary was $64000 in 1985. What would the salary have to be in 2005 to keep up with inflation (rounded to the nearest $1000) ?

• A) $125,000
• B) $69,000
• C) $116,000
• D) $35,000

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Definitions:

CISG

Stands for the United Nations Convention on Contracts for the International Sale of Goods, which provides a uniform framework for international commerce.

Risk Of Loss

The potential that an investment's value may decrease, or that the property may be destroyed, damaged, or lost, impacting the holder's financial position.

Sales Contract

A legal agreement between a buyer and a seller which outlines the terms and conditions of a sale of goods or services.

Damaged Goods

Items that are broken, defective, or impaired in such a way that they cannot perform their intended function.