The consumer price index (CPI) of an economy is approximated by I(t) function I(t) = -0.3t^3 + 3t^2 + 100 (0 <= t <= 9) where t is measured in years, with t=0 corresponding to the beginning of 2004. Find the inflation rate at the beginning of 2010. 0.1602 0.0251 0.1364 0.0874
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To do this, we substitute t = 6 into the function I(t): I(6) = 0.3(6)^3 + 3(6)^2 + 100 = 0.3(216) + 3(36) + 100 = 64.8 + 108 + 100 = 272.8 Show more…
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Consumer Price Index An economy's consumer price index (CPI) is described by the function $$ I(t)=-0.2 t^{3}+3 t^{2}+100 \quad(0 \leq t \leq 11) $$ in year $t,$ where $t=0$ corresponds to 2003 a. At what rate was the CPI changing in $2008 ?$ In $2010 ?$ In $2013 ?$ b. What was the average rate of increase in the CPI over the period from 2008 to 2013 ?
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The consumer price index (CPI) of a certain country is given by I(t) = -0.02t^3 + 0.4t^2 + 121 (0 ≤ t ≤ 4), where t = 0 corresponds to the beginning of 2013. Find the annual percentage rate of inflation in the CPI of the country at the beginning of 2016. (Round your answer to three decimal places.)
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