Answer:
decreased by 4.5%
Explanation:
A family consumes: 10 pizzas, 7 pairs of jeans, and 20 gallons of milk.
In 2016, pizzas cost $10 each, jeans cost $40 per pair, and milk cost $3 per gallon.
The family's total cost of living in 2016 is:
[tex]C_{2016} = 10*\$10 +7*\$40 +20*\$3\\C_{2016} = \$440[/tex]
In 2017, pizzas cost $8 each, jeans cost $40 per pair, and milk cost $3 per gallon.
The family's total cost of living in 2017 is:
[tex]C_{2017} = 10*\$8 +7*\$40 +20*\$3\\C_{2016} = \$420[/tex]
The change, in percentage, of a typical family's cost of living is:
[tex]R=\frac{C_{2017}-C_{2016}}{C_{2016}} \\R=\frac{420-440}{440} \\R=0.045\ or\ 4.5\%[/tex]
The cost of living decreased by 4.5%
