Problem
Examine the price-change numbers shown.
a. Use the formula to calculate the increase in the CPI from March 2007 to March 2008 to two decimal places. Verify that the number shown in the table is correct to a single decimal place.
b. The level of the CPI in March 2007 was 205.10. Calculate the CPI for March 2008.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.