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Home Q & A Board Science-Related Homework Help Mathematics
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Hillier Hillier
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Posts: 550
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6 years ago
The Canadian CPI was 109.1 in 2006 and 114.4 in 2009 relative to the base year of 2002. Determine the purchasing power of the Canadian dollar for the two years, and interpret the meaning of the results?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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#1
6 years ago
Purchasing power of the dollar for 2006 relative to 2002
=  (100) = 0.916590
Purchasing power of the dollar for 2009 relative to 2002
=  (100) = 0.874126
The dollar in 2006 could purchase only 91.7% of what it could purchase in 2002. In 2009, the dollar could purchase even less—about 87.4% of what it could purchase in 2002.
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