Table 81
(Source: U -Considering the End-Of-Year CPI Data in Table 8

question 75

Essay

Table 8.1
(Source: U.S. Bureau of Labor Statistics)
$$\begin{array} { c r c c } \hline \text { Year } & \text { CPI } & \text { Year } & \text { CPI } \\\hline 1970 & 40.8 & 2000 & 181.3 \\1975 & 53.9 & 2005 & 200.9 \\1980 & 80.8 & 2010 & 221.3 \\1985 & 109.3 & 2011 & 225.0 \\1990 & 135.5 & 2012 & 229.8 \\1995 & 161.2 & & \\\hline\end{array}$$
-Considering the end-of-year CPI data in Table 8.1:
(a) Calculate the rate of inflation between 1970 and 1975 and between 1995 and 2000.
(b) Calculate the average rate of inflation for 1970-1975 and 1970-1980.
(c) Calculate the average rate of inflation for 2000-2012 and 2005- 2010.
(d) Briefly comment on your results.

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Definitions:

Operational Decisions

Decisions made at the operational level of an organization, focusing on the day-to-day operations and management.

Top Management

The highest level of managerial and executive leadership within an organization, responsible for strategic planning and decision-making.

Delegation

The assignment of authority and responsibility to another person to carry out specific activities while retaining ultimate accountability for the outcome.

Supervision and Subordination

The management process involving overseeing employees' work and guiding their performance, while those employees are in roles of lesser authority.