Business, 17.03.2020 20:07, sindy35111

Comparing salaries from different times

Consider golfers who led the Professional Golfers’ Association of America (PGA) in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation).

To convert the original earnings of Casper, Watson, and Stadler, use the formula for converting dollar figures from an earlier era into year 2009 U. S. dollars. Using those figures, fill in the following table, making sure to round your responses to the nearest U. S. dollar.

Year Golfer Nominal Winnings U. S. CPI Winnings in 2009 Dollars
(Dollars) (1983 = 100)
1968 Billy Casper 205,169 34.8
1980 Tom Watson 530,808 82.4 1,381,776
1982 Craig Stadler 446,462 96.5
2009 Tiger Woods 10,508,163 214.5 10,508,163
True or False: According to the previous table, the golfer with the highest PGA winnings in nominal dollars is the same as the golfer with the highest PGA winnings after adjusting for inflation.

True

False

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Comparing salaries from different times

Consider golfers who led the Professional Golfer...