The Average Annual Inflation Rate in the United States Over

question 98

Short Answer

The average annual inflation rate in the United States over the past 98 years is 3.37% and has a standard deviation of approximately 5% (Inflationdata.com). In 1980, the inflation rate was above 13%. If the annual inflation rate is normally distributed, what is the probability that inflation will be above 13% next year?

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Definitions:

Tort

A civil wrong that causes someone else to suffer loss or harm resulting in legal liability for the person who commits the tortious act.

Tortfeasor

One who commits a tort.

Tort

A civil wrong that causes someone else to suffer loss or harm, resulting in legal liability for the person who commits the act.

Compensation

Payment or reward given for services rendered or harm suffered.