Question 16.25

16.25 College tuition. Tuition for Colorado residents at the University of Colorado, Boulder, has increased as follows (use tuition at your own college if you have those data):

Year: 1985 1987 1989 1991
Tuition ($): 1332 1548 1714 1972
Year: 1993 1995 1997 1999
Tuition ($): 2122 2270 2356 2444
Year: 2001 2003 2005 2007
Tuition ($): 2614 3192 4446 5418
Year: 2009 2011 2013 2015
Tuition ($): 6446 7672 8760 9312

Use annual average CPIs from Table 16.1 to restate each year’s tuition in constant 1985 dollars. Make two line graphs on the same axes, one showing actual dollar tuition for these years and the other showing constant dollar tuition. Then explain to someone who knows no statistics what your graphs show.