Essay
The consumer price index (CPI)is a measure of the relative cost of goods in a country for a particular year.The table below shows the CPI for various years beginning in 1940. 
a)Re-express the CPI by taking the log of the data,then plot the re-expressed data as a scatterplot. 
b)Determine the regression equation and correlation coefficient for the re-expressed data.
c)Use your model from part (b)to predict the CPI in 2010.
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View Answer
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