Final answer:
To calculate average CPI from a frequency table, multiply each CPI by its frequency, sum the totals, then divide by the sum of all frequencies.
Step-by-step explanation:
To calculate the average CPI using a frequency table, you begin by multiplying each Consumer Price Index (CPI) value by its corresponding frequency. This will give you the total CPI for that row.
You then sum all of the totals to find the aggregate CPI.
Next, you calculate the sum of all frequencies to determine the total number of data values. Lastly, divide the aggregate CPI by the total number of data values to find the average CPI.
Remember, to get more accurate results, you can always add more current years of CPI data from credible sources like the Bureau of Labor Statistics.