The Consumer Price Index (CPI) Is Calculated by Averaging the Prices

question 32

Multiple Choice

The consumer price index (CPI) is calculated by averaging the prices of various items after assigning a weight to each item. The following table gives the consumer price indexes for selected years from 1940 through 2002, reflecting buying patterns of all urban consumers. Find an equation that models these data and use it to determine when the consumer price index will pass 349. ​

Source: U.S. Bureau of the Census
​

• A) The 2011 - 2012 year
• B) The 2012 - 2013 year
• C) The 2014 - 2015 year
• D) The 2016 - 2017 year
• E) The 2019 - 2020 year

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