Question: Modeling consumer price index the consumer price index (CPI) is calculated by finding the total price of various items that have been averaged according to a prescribed formula. The table gives the consumer price index of all urban consumers (CPI-U) for selected years from 1940 to 2008.
(a) With x representing years past 1900, find an exponential equation that models these data.
(b) Use your model to predict the rate of growth in this price index in 2018.
(c) For these data, name and find the model for another type of function that involves exponential functions.
(d) With the model from (c), use the numerical derivative feature of your calculator to find the rate of change in 2018.
