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 255.
Year
Consumer
Price Index
Year
Consumer
Price Index
1940
1950
1960
1970
14
24.1
29.6
38.8
1980
1990
2000
2002
82.4
130.7
172.2
179.9
?
Source: U.S. Bureau of the Census
?
A. The 2004 - 2005 year
B. The 2005 - 2006 year
C. The 2007 - 2008 year
D. The 2009 - 2010 year
E. The 2012 - 2013 year
Answer: D
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