I\'m struggling to use CPI to find the money each of these made. I know that the

Question

I'm struggling to use CPI to find the money each of these made. I know that the last question's answer will depend on the table. Thank you!

2. Using the Consumer Price Index Aa Aa The following table provides data on the average starting salary offered to new college graduates with a degree in information systems and the Consumer Price Index (CPI) from 2005 to 2009. Compute and select the equivalent salary in 2005 dollars for each of the five years listed in the table using the dropdown menus provided Graduation Year 2005 2006 2007 2008 2009 Salary Offer () (1982-84 base) Equivalent Salary (2005 dollars) CPI 43,653 45,391 47,507 51,489 50,573 195.3 201.6 207.3 215.3 214.5 (Sources: Salary offers: National Association of Colleges and Employers [NACE], Salary Survey, various issues; CPI: Bureau of Labor Statistics [BLS]) The cohort of information systems majors who graduated in jobs fared the best in the market for their first

Explanation / Answer

here equaivalent slary for 2005 for each graduation Year =salary*(2005 CPI)/(current Year salary)

hence from above:

who gradauted in 2008 fared the best.......

(please revert for any clarifcation)

graduationYear equivalent salary 2005 43653.00 2006 43972.53 2007 44756.96 2008 46706.00 2009 46046.19

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

---