The Consumer Price Index (Based on a Value of 100

question 99

Short Answer

The Consumer Price Index (based on a value of 100 in 1992) rose from 93.3 in 1990 to 113.5 in 2000. What was the (equivalent) annual rate of inflation in the decade of the 1990s?

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Definitions:

Box and Whisker Plot

A graphical representation of data that highlights the median, quartiles, and extremes of the dataset.

Five-number Summary

A statistical summary of a data set that includes the minimum, first quartile, median, third quartile, and maximum.

30th Percentile

A value below which 30 percent of the data falls, used to indicate the lower-middle range of a data set.

Interquartile Range

The difference between the 75th and 25th percentiles of a dataset, a measure of statistical dispersion.