Ma Assignment Corp «W Min Tap engage Le?XY, MindTap-Cengage Le/Xya. les x Ch Sec

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Ma Assignment Corp «W Min Tap engage Le?XY, MindTap-Cengage Le/Xya. les x Ch Secure https://ng.cengage.com/static/nb/ui/evo/index.htmi?deploymentld-57610722215512586363909366 M&. Mind lap-Cengage 5% MINDTAP From Cergage Homework (Ch 11) 3. Comparing salaries from different times onsider golfers who led the Professional Golfers' A ominal figures (unadjusted for inflation s at different points in time To convert the original earnings dollars, Using those figures, fill in the following table, making sure to round your responses to the nearest U.S. dollar of Nicklaus, Watson, and Kite, use the formula for converting dollar figures from an e Nominal Winnings U.S . CPI Year 1965 Jack Nicklaus 1980 Tom Watson 1981 Tom Kite 2009 Tiger Woods Golfer Dollars)(1983 100) Winnings in 2009 Dollars 140,752 530,808 375,699 31.5 82.4 90.9 214.5 10,508,163 10,508,163 True or False: According to the previous table, the golfer with the highest PGA winnings in nominal dollars is the same a PGA winnings after adjusting for inflation True

Explanation / Answer

Nominal CPI Winnings in Year Golfer Winnings 2009 $ 1965 Jack Nicklaus 140752 31.5 958454.1 1980 Tom Watson 530808 82.4 1381776 1981 Tom Kite 375699 90.9 886550.4 2009 Tiger Woods 10508163 214.5 10508163 Note: Winnings in 2009$= Nominal wages/ CPI of respective year   * CPI of New base year i.e. 214.5 True. Tiger woods has the highest winings even after adjusting for inflation.

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