| 3. Adjusting for inflation Consider golfers who led the PGA in winnings at different points in time. Note that the winnings are nominal figures ( unadjusted for inflation).Use the formula for converting nominal values to convert the original U.S dollar earnings of Nicklaus, Watson, and Woods (’00) to 2009 U.S. dollars. Using those figures,fill in the following table , make sure to round your responses to the nearest U.S. dollar. Year 1973 1980 2000 2009 Golfer Jack Nicklaus Tom Watson Tiger Woods Tiger Woods Nominal Winnings U.S. Dollars ($) 308,362 530,808 9,188,321 10,508,163 U.S. CPI (1983=100) 44.4 82.4 172.2 214.5 Winnings in 2009 U.S. Dollars ($) 10,508,163 List the for golfers in order from lowest inflation-adjusted winnings to highest. Begin by choosing the golfer with the lowest inflation-adjusted winnings from the selection list labeled “4.” |
