Suppose that you gave your niece a check for 50 on her 16th, Basic Statistics

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Suppose that you gave your niece a check for 50 on her 16th

Question: Suppose that you gave your niece a check for $50 on her 16th birthday in 1997 (when the CPI was 160.5). Your nephew is now about to turn 16. You discover that the CPI is now 180. How much should you give your nephew if you want to give him the same amount you gave your niece, adjusted for inflation?

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Basic Statistics: Suppose that you gave your niece a check for 50 on her 16th

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Basic Statistics: Suppose that you gave your niece a check for 50 on her 16th

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