The Canadian Consumer Price Index (Based on a Value of 100

question 285

Short Answer

The Canadian Consumer Price Index (based on a value of 100 in 1971) rose from 97.2 in 1970 to 113.5 in 1980. What was the (equivalent) annual rate of inflation in the decade of the 1970s?

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Definitions:

Standard Deviation

The statistical measurement that calculates the spread or dispersion of a dataset relative to its mean, providing insight into the concentration of data points.

Observations

The act of recording data or information gathered from scientific or statistical study.

Millions

A numerical count or quantity equivalent to one thousand thousands or 10^6.

Standard Deviation

A measure of the dispersion or variability of a set of numbers, indicating how spread out the numbers are from their average value.