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  3. suppose that a consumer price index cpi which measures the...

Question: suppose that a consumer price index cpi which measures the...

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Suppose that a consumer price index (CPI), which measures the cost of a typical package of consumer goods, stood at 110.5 in 1990 and 150.5 in 2000. Let x=0 correspond to 1990. Assuming that the data can be modeled by a linear equation, (a) find a linear equation that best models the CPI. (b) the approximate CPI in 1998. (c) the approximate CPI in 2001.
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