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11 Oct 2023, 09:31
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During the one-year period from October 2011 to October 2012, the smallest percent change in the CPI occurred in the same region that saw the largest percent change from September 2011 to September 2012.: False
The West recorded the largest two-month percent change both from August 2012 to October 2012 and from July 2012 to September 2012.: False
During the period from September 2012 to October 2012, the mean percent change for the four regions was negative.: True
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
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Data Insights (DI) Butler 2023-24 [Question #33, Date: Oct-11-2023] [Click here for Details]
The Following Table shows in the Consumer Price Index for consumers in urban areas with populations greater than 1.5 million.| Annual (Oct. 2011 to Oct. 2012) | 2-Month (Aug. 2012 to Oct. 2012) | Monthly (Sep. 2012 to Oct. 2012) | Annual (Sep. 2011 to Sep. 2012) | 2-Month (Jul. 2012 to Sep. 20212) | Monthly (Aug. 2011 to Sep. 2012) | |
|---|---|---|---|---|---|---|
| Northeast | 1.8 | 0.4 | 0 | 1.7 | 1 | 0.4 |
| Midwest | 2.1 | 0.1 | —0.3 | 1.9 | 1 | 0.4 |
| South | 2.2 | 0.2 | —0.4 | 2.2 | 1.2 | 0.5 |
| West | 2.8 | 1 | 0.5 | 2.3 | 1 | 0.5 |
Consider each of the following statements. For each statement, indicate whether the statement is true or false, based on the information provided in the table.
Question #2 based on the same table is available here
| True | False | |
| During the one-year period from October 2011 to October 2012, the smallest percent change in the CPI occurred in the same region that saw the largest percent change from September 2011 to September 2012. | ||
| The West recorded the largest two-month percent change both from August 2012 to October 2012 and from July 2012 to September 2012. | ||
| During the period from September 2012 to October 2012, the mean percent change for the four regions was negative. |
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Official Answer
During the one-year period from October 2011 to October 2012, the smallest percent change in the CPI occurred in the same region that saw the largest percent change from September 2011 to September 2012.: False
The West recorded the largest two-month percent change both from August 2012 to October 2012 and from July 2012 to September 2012.: False
During the period from September 2012 to October 2012, the mean percent change for the four regions was negative.: True
26 Nov 2023, 03:38
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Sajjad1994 How is the answer to Q2 part C - True?
Can we just take a mean? Would it not be a weighted mean and hence be False?
Please share the OE. Thanks.
Can we just take a mean? Would it not be a weighted mean and hence be False?
Please share the OE. Thanks.
27 Nov 2023, 13:02
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Official Explanation
Statement 1: Sort on October 2011 to October 2012. The smallest percent change from October 2011 to October 2012 was 1.8% and occurred in the Northeast. Sort on September 2011 to September 2012. The largest percent change from September 2011 to September 2012, a change of 2.3%, occurred in the West.
Answer: False
Statement 2: Sort on August 2012 to October 2012. In the period from August 2012 to October 2012, the West showed a 1% change, but if you sort on July 2012 to September 2012, the largest change of 1.2% was recorded in the South.
Answer: False
Statement 3: Use the calculator to find the average of the September 2012 to October 2012 column. During the period from September 2012 to October 2012, the mean percent change for the four regions was (0 – 0.3 – 0.4 + 0.5)/4 = –0.2/4 = –0.05.
Answer: True
Statement 1: Sort on October 2011 to October 2012. The smallest percent change from October 2011 to October 2012 was 1.8% and occurred in the Northeast. Sort on September 2011 to September 2012. The largest percent change from September 2011 to September 2012, a change of 2.3%, occurred in the West.
Answer: False
Statement 2: Sort on August 2012 to October 2012. In the period from August 2012 to October 2012, the West showed a 1% change, but if you sort on July 2012 to September 2012, the largest change of 1.2% was recorded in the South.
Answer: False
Statement 3: Use the calculator to find the average of the September 2012 to October 2012 column. During the period from September 2012 to October 2012, the mean percent change for the four regions was (0 – 0.3 – 0.4 + 0.5)/4 = –0.2/4 = –0.05.
Answer: True
