Problem

In the problem involving days, a 365−day year is assumed.Consumer Price Index. The U.S. Co...

In the problem involving days, a 365−day year is assumed.

Consumer Price Index. The U.S. Consumer Price Index (CPI) in recent years is given in the table. A scatter plot of the data and linear regression line are shown in the figure, where x presents years sinice 2000.

Consumer Price index (1982–1984 = 100)

Year

CPI

2000

172.2

2002

179.9

2004

188.9

2006

198.3

2008

211.1

2010

218.1

Source: U.S. Bureau of Labor Statistics

(A) Interpret the slope of the model.


(B) Predict the CPI in 2024.

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