In 1969,Malcolm Bought a Pontiac Firebird for $2,500

question 37

Multiple Choice

In 1969,Malcolm bought a Pontiac Firebird for $2,500.If the price index was 36.7 in 1969 and the price index was 235 in 2013,then what is the price of the Firebird in 2013 dollars?

• A)$4,609.57
• B)$4,957.51
• C)$13,508.17
• D)$16,008.17

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Definitions:

Confidence Interval

A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter, with a certain degree of confidence.

Confidence Interval

A sequence of numerical values, obtained from the statistics of a sample, that likely envelops an undetected population parameter.

Sample Mean

The average value calculated from a subset of a population, used to estimate the population mean.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how spread out the numbers are from the mean.