This unit is from our archive and it is an adapted extract from Open mathematics (MU120) which is no longer in presentation. If you wish to study formally at The Open University, you may wish to explore the courses we offer in this curriculum area.
This Unit looks at a wide variety of ways of comparing prices and the construction of a price index. You will look at the Retail Price Index (RPI) and the Consumer Price Index (CPI), indices used by the UK Government to calculate the percentage by which prices in general have risen over any given period. You will also look at the important statistical and mathematical ideas that contribute to the construction of a price index.
In order to complete this Unit you will need to have obtained a Texas Instruments TI-83 calculator and the book Tapping into Mathematics With the TI-83 Graphics Calculator by Barrie Galpin and Alan Graham (eds), Addison Wesley, 1997 (ISBN 0201175479). This is referred to throughout the Unit as the Calculator Book.
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