Use Table $3.4$ to answer the following question. Assuming that all prices have risen at the same rate as the CPI. If someone needed $\$ 45,000$ to maintain a certain standard of living in $1996$, how much would be needed to maintain the same standard of living in $2016$?

In 1968, the federal minimum wage was $1.60 per hour. This might seem to be a small amount. However, when adjusted for inflation it had the same purchasing power as$7.92 per hour in 2000 dollars. In 2000, the federal minimum wage was $5.15 per hour. Therefore, the real (adjusted for inflation) value of the minimum wage fell by about 35 percent between 1968 and 2000. Why do you think the federal government did not increase the minimum wage at the same rate as inflation? How might this have affected the number of minimum-wage jobs offered to workers?

Use Table $3.4$ to answer the following question. Assuming that all prices have risen at the same rate as the CPI. If a ski lift ticket cost $\$ 100$ in $2016$, what was its price in $1985$ dollars?

Use the discussed table to answer the following questions. Assume that all prices have risen at the same rate as the CPI.

What was the overall amount of inflation as a percentage from $2000$ to $2010$?

Minimum wage began at 25 cents an hour in 1938. Today there is a federal minimum wage and some states have set a minimum that is higher than the federal rate. What is the minimum wage in your state? How does it compare to federal and other state rates?

Use the discussed table to answer the following questions. Assume that all prices have risen at the same rate as the CPI.

If someone needed $\$ 40,000$ to maintain a certain standard of living in $1985$, how much would be needed to maintain the same standard of living in $2006$?

Use Table $3.4$ to answer the following question. Assuming that all prices have risen at the same rate as the CPI. What was the overall increase in prices due to inflation as a percentage from $2000$ to $2016$?

Use the appropriate rounding rules to do the following calculations. Express the result with the correct precision or correct number of significant digits.

Divide $102$ miles by $0.65$ hour.

Express the result with the correct precision or a correct number of significant digits. At the hardware store, you buy a $55$-kilogram bag of sand. You also buy $1.25$ kilograms of nails. What is the total weight of your purchases?

A tax auditor reviewing a tax return looks for several kinds of problems, including (1) mistakes made in entering or calculating numbers on the tax return and (2) places where the taxpayer reported income dishonestly. Discuss whether each problem involves random or systematic errors.

A tax auditor reviewing a tax return looks for several kinds of problems, including $(1)$ mistakes made in entering or calculating numbers on the tax return and $(2)$ places where the taxpayer reported income dishonestly. Discuss whether each problem involves random or systematic errors.

Estimate the amount of money you will have in account after $5$ years, assuming that the account earns simple interest. You deposit $\$ 3200$ in an account with an annual interest rate of $3.5 \%$

Find out the absolute and relative errors in the following situation. The label on a bag of concrete says " $60$ pounds," but the true weight is only $58$ pounds.

Express the result with the correct precision or a correct number of significant digits. You drive $357.8$ miles on a $13.5$-gallon tank of gasoline. What is your gas mileage?