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What was codys real income in 2004 and what was his real

The take home pay of Cody and the CPI for 2007 and 2004 were:

Take-Home CPI

Year Pay (2005 = 100)

2004 $25,190.00 91.7

2007 $40,977.00 108.5

For full marks your answer should be accurate to at least two decimal places.

a) What was Cody's real income in 2004?

b) What was his real income in 2007?

c) Using the Consumer Price index (CPI), what was the purchasing power of the dollar in 2007?

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Solution Preview :

Prepared by a verified Expert

Basic Statistics: What was codys real income in 2004 and what was his real

Reference No:- TGS0584195

Have a Question? (oR Write a Review)

Recent Questions Asked Basic Statistics

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Solution Preview :

Prepared by a verified Expert

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Reference No:- TGS0584195

Recent Questions Asked Basic Statistics

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