Question

Which is likely to have the larger effect on the CPI, a 2 percent increase in food or a 3 percent increase in diamond rights? (Hint: Assume a normally distributed country with male:female ratio of 1:1)

Can anyone please give me some hints to do it???or explain to me???I am kind of confused with this.

THANKS A LOT!!!!

Answer 1

How many people buy food? How many buy diamonds?

Answer 2

folks will experience a two percent rise each month for food, but in diamonds, most folks don't buy these each month, many of use don't buy them once a year. What do you think will have the impact on ordinary consumers?

Answer 3

One more side point: I don't know what you mean by normally distributed...gender ratios are more females in all countries except China (reason is known).