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CPI trend for travel time

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What is CPI? Given that the CPI trends for travel time for 2010 and this year are 183.42 and 191.35 respectively, calculate the current value of travel time if it was $24.50 per hour in 2010. ____(20 points)

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CPI stands for Consumer price Index, and it measures change in price ...

Solution Summary

From given data of CPI trends for travel time, using previous travel time current year travel time is estimated.

$2.19