Let's break down and solve the problem step by step. --- ### **Step 1: Understanding the Problem** We are given the PGA winnings for four golfers in different years, along with the CPI (Consumer Price Index) for those years. We need to convert each golfer's winnings into 2016 dollars using the formula: \[ \text{Winnings in 2016 Dollars} = \text{Nominal Winnings} \times \frac{\text{CPI in 2016}}{\text{CPI in Year}} \] The CPI for 2016 is **240.0**. --- ### **Step 2: Apply the Formula** #### **1. Arnold Palmer (1963)** - Nominal Winnings: \$128,230 - CPI (1963): 30.6 \[ \text{Winnings in 2016 Dollars} = 128,230 \times \frac{240.0}{30.6} \] \[ = 128,230 \times 7.843137255 \] \[ \approx \$1,006,259 \] --- #### **2. Lee Trevino (1970)** - Nominal Winnings: \$157,037 - CPI (1970): 38.8 \[ \text{Winnings in 2016 Dollars} = 157,037 \times \frac{240.0}{38.8} \] \[ = 157,037 \times 6.18556701 \] \[ \approx \$970,834 \] --- #### **3. Greg Norman (1986)** - Nominal Winnings: \$653,296 - CPI (1986): 109.6 \[ \text{Winnings in 2016 Dollars} = 653,296 \times \frac{240.0}{109.6} \] \[ = 653,296 \times 2.190218978 \] \[ \approx \$1,431,442 \] --- #### **4. Dustin Johnson (2016)** - Nominal Winnings: \$9,365,185 - CPI (2016): 240.0 \[ \text{Winnings in 2016 Dollars} = 9,365,185 \times \frac{240.0}{240.0} \] \[ = 9,365,185 \times 1 \] \[ = \$9,365,185 \] --- ### **Step 3: Fill in the Table** | Year | Golfer | Nominal Winnings | U.S. CPI | Winnings in 2016 Dollars | |------|------------------|------------------|----------|-------------------------| | 1963 | Arnold Palmer | $128,230 | 30.6 | $1,006,259 | | 1970 | Lee Trevino | $157,037 | 38.8 | $970,834 | | 1986 | Greg Norman | $653,296 | 109.6 | $1,431,442 | | 2016 | Dustin Johnson | $9,365,185 | 240.0 | $9,365,185 | --- ### **Step 4: Answer the True/False Question** **Question:** "According to the previous table, the golfer with the highest PGA winnings in nominal dollars is not the same as the golfer with the highest PGA winnings after adjusting for inflation." - In **nominal dollars**, Dustin Johnson has the highest winnings (\$9,365,185). - **After adjusting for inflation**, Dustin Johnson still has the highest winnings (\$9,365,185). **Therefore, the statement is** ***False***. --- ## **Final Answers** ### **Winnings in 2016 Dollars:** - **Arnold Palmer:** $1,006,259 - **Lee Trevino:** $970,834 - **Greg Norman:** $1,431,442 - **Dustin Johnson:** $9,365,185 ### **True/False Statement:** - **False** (The golfer with the highest PGA winnings in nominal dollars *is* the same as the golfer with the highest adjusted winnings.)