This blog has been created to implement wise shopping. Grocery shopping, that is. By navigating through this blog you will be able to compare the regular prices to final sale prices. To help you visualize the differences, 5-Number Summary & IQR, Box Plots, Histograms, and the mean and standard deviation of the data collected will be provided. At the end of your navigation we hope you have become a little wiser.
Before continuing to navigate through this blog it is important to know that...
According to the Bureau of Labor Statistics, Consumer Price Index is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. It is based on the expenditures of almost all residents of urban or metropolitan areas, including professionals, the self-employed, the poor, the unemployed, and retired people, as well as urban wage earners and clerical workers. Not included in the CPI are the spending patterns of people living in rural nonmetropolitan areas, farm families, people in the Armed Forces, and those in institutions, such as prisons and mental hospitals. Most importantly, the CPI market basket is developed from detailed expenditure information provided by families and individuals on what they actually bought.
