Business Analytics
Business Analytics
3rd Edition
ISBN: 9780135231715
Author: Evans
Publisher: PEARSON
Question
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Chapter 3, Problem 2PE
To determine

To create a line chart showing the growth in the annual CPI.

Expert Solution & Answer
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Explanation of Solution

Given:

The Consumer price index excel file data is as follows:

    Consumer Price Index - All Urban ConsumersBureau of Labor Statistics
    YearJanFebMarAprMayJunJulAugSepOctNovDec
    2000169.300170.000171.000170.900171.200172.200172.700172.700173.600173.900174.200174.600
    2001175.600176.000176.100176.400177.300177.700177.400177.400178.100177.600177.500177.400
    2002177.700178.000178.500179.300179.500179.600180.000180.500180.800181.200181.500181.800
    2003182.600183.600183.900183.200182.900183.100183.700184.500185.100184.900185.000185.500
    2004186.300186.700187.100187.400188.200188.900189.100189.200189.800190.800191.700191.700
    2005191.600192.400193.100193.700193.600193.700194.900196.1000198.800199.100198.100198.100
    2006199.200199.400199.700200.600201.400201.900202.900203.700202.900201.800202.000203.100
    2007203.372204.258205.312205.959206.850207.202207.651207.671208.503209.073210.740211.434
    2008212.225212.703213.543214.106215.287217.279219.102218.779218.846216.832212.923211.339
    2009211.959212.877212.643212.810213.050214.558214.774215.566215.911216.357216.859217.224
    2010217.587217.591217.729217.579217.224216.929217.597218.150    

Calculation:

Since, we have to show the line chart for the growth in annual CPI. Thus, we have to take the sum of the months yearly basis. We will use the formula for sum, such as,

=SUM(number1,[number2],...])

Thus the result will be as:

  Business Analytics, Chapter 3, Problem 2PE , additional homework tip 1

And the outcome will be:

    YearJanFebMarAprMayJunJulAugSepOctNovDecCPI(Annualy)
    2000169.300170.000171.000170.900171.200172.200172.700172.700173.600173.900174.200174.6002066.300
    2001175.600176.000176.100176.400177.300177.700177.400177.400178.100177.600177.500177.4002124.500
    2002177.700178.000178.500179.300179.500179.600180.000180.500180.800181.200181.500181.8002158.400
    2003182.600183.600183.900183.200182.900183.100183.700184.500185.100184.900185.000185.5002208.000
    2004186.300186.700187.100187.400188.200188.900189.100189.200189.800190.800191.700191.7002266.900
    2005191.600192.400193.100193.700193.600193.700194.900196.1000198.800199.100198.100198.1002343.200
    2006199.200199.400199.700200.600201.400201.900202.900203.700202.900201.800202.000203.1002418.600
    2007203.372204.258205.312205.959206.850207.202207.651207.671208.503209.073210.740211.4342488.025
    2008212.225212.703213.543214.106215.287217.279219.102218.779218.846216.832212.923211.3392582.964
    2009211.959212.877212.643212.810213.050214.558214.774215.566215.911216.357216.859217.2242574.588
    2010217.587217.591217.729217.579217.224216.929217.597218.150    1740.386

Then, we will construct the line chart by selecting the last column of CPI (annually) of the sums of the months year wise and then go to the insert button and then click on the line chart and the line chart is created,

The line chart is as follows:

  Business Analytics, Chapter 3, Problem 2PE , additional homework tip 2

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