Question

Nominal Winnings U.S. CPI Winnings in 2021 Dollars (Dollars) (1983 = 100) 1945 Byron Nelson 63,336 18 1973 Jack Nicklaus 308,362 44.4 1991 Corey Pavin 979,430 136.2 2021 John Rahm 7,705,933 264.7 7,705,933

Answer 1

This question involves comparing nominal winnings and CPI-adjusted winnings in professional golf over different years.

Step-by-step explanation:

This question pertains to the comparison of nominal winnings and CPI-adjusted winnings in the field of professional golf. The data provided includes the nominal winnings in U.S. dollars for four different years and the corresponding CPI (Consumer Price Index) values for those years. The CPI is used to adjust the nominal winnings to their equivalent values in 2021 dollars, taking into account inflation over time.

To calculate the CPI-adjusted winnings in 2021 dollars, you need to divide the nominal winnings by the CPI and then multiply by 264.7 (the CPI value for 2021). For example, for John Rahm's winnings in 2021, you would divide 7,705,933 by 264.7 and multiply by 264.7, resulting in the same value.

By comparing the nominal winnings and the CPI-adjusted winnings, you can see how the actual purchasing power of the winnings has changed over time, accounting for inflation.