Question

Consider golfers who led the Professional Golfers’ Association of America (PGA) in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation).

To convert the original earnings of Nelson, Nicklaus, and Stadler, use the formula for converting dollar figures from an earlier era into year 2016 U.S. dollars. Using those figures, fill in the following table, making sure to round your responses to the nearest U.S. dollar.

Year	Golfer	Nominal Winnings	U.S. CPI	Winnings in 2016 Dollars
		(Dollars)	(1983 = 100)
1945	Byron Nelson	63,336	18
1972	Jack Nicklaus	320,542	41.8
1982	Craig Stadler	446,462	96.5
2016	Dustin Johnson	9,365,185	240.0	9,365,185

True or False: According to the previous table, the golfer with the highest PGA winnings in nominal dollars is the same as the golfer with the highest PGA winnings after adjusting for inflation.

True

False

Answer 1

Winnings in 2016 dollars= Nominal winnings*240/US CPI

Winnings in 2016 dollars-

BYRON NELSON

63336*240/18= 844480

JACK NICKLAUS

320542*240/41.8= 1840432.

CRAIG STADLER

446462*240/96.5= 1110371.8

TRUE-

Dustin Johnson has both the highest Nominal winnings and inflation adjusted winnings.

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