AS usual claims of record level CEO pay have been made by a number of news sources.
Given the following data for large corporations, evaluate the accuracy of these claims.
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Get Help Now!YearAverage CEO CompensationCPI
(in millions of U.S. $)
1990$1,456130.7
1994$2,800147.2
1998$4,955163.0
2002$9,680179.9
2006$11,015201.6
2010$8,750218.056
2014$13,500237.017
2016238.782
a.Convert each nominal compensation into current year dollars and rank them (by year) from lowest to highest.
b.Determine how much the lowest compensated year from part “a” would have to have made in that year to equal the purchasing power of the highest compensated year from part a.
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