consumer price index (CPI)
Suppose that the consumer price index (CPI), which measures the cost of a typical package of consumer goods, stood at 125.9 in 1990 and 145.9
Let x equal=0 correspond to 1990, and estimate the CPI in 1998
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CPI in 1998?
CPI in 2001?
(Assume that the data can be modeled by a straight line.)
Which linear equation best models the CPI?
Please include steps to clarify