MrClooney Inherited a Sum of $30,000 in 1990

question 141

Multiple Choice

Mr.Clooney inherited a sum of $30,000 in 1990.If the price index was 100 for 1990 and 188 for 2014,the value of the money he inherited in 2014 dollars is ________.

• A) $56,400
• B) $45,200
• C) $38,800
• D) $48,000

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Definitions:

Relative Frequency Histogram

A type of histogram that displays the proportion or percentage of observations within various categories or intervals.

Relative Frequency Histogram

A type of histogram that displays the relative frequencies (proportions or percentages) of values within a dataset.

Histogram

A graphical representation of the distribution of numerical data, where the data is divided into bins and the frequency of data in each bin is represented by the height of the bar.

Relative Frequency Histogram

A type of histogram where each bar's height represents the proportion of data that falls into each category, compared to the total data set.