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Question

# $\begin{array}{|c|c|c|} \hline & \begin{array}{c} \text { Average Salary } \\ \text { Increase } \end{array} & \begin{array}{c} \text { Consumer } \\ \text { Price Index } \end{array} \\ \hline 1993 & 4.6 \% & 3.0 \% \\ \hline 1994 & 4.2 \% & 2.5 \% \\ \hline 1995 & 4.2 \% & 2.8 \% \\ \hline 1996 & 4.1 \% & 2.9 \% \\ \hline 1997 & 4.1 \% & 2.3 \% \\ \hline 1998 & 4.1 \% & 1.6 \% \\ \hline 1999 & 3.4 \% & 2.2 \% \\ \hline 2000 & 4.1 \% & 3.4 \% \\ \hline 2001 & 3.8 \% & 2.8 \% \\ \hline 2002 & 3.3 \% & 1.6 \% \\ \hline 2003 & 2.9 \% & 2.3 \% \\ \hline \end{array}$What year had the greatest difference between the percent of the average salary increase and percent of the Consumer Price Index?

Solution

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Step 1
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For this exercise, we are to find the year wherein there the largest difference between the average salary increase and the consumer price index is observed.

When can we say that in that year, we see the largest difference?

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