The computer randomly picked a year X from 1980 - 2018, what is the chance that the inflation rate in that year is lower than 7.4%?
In other words, imagine that, at the beginning of year X, the set of products that is used to compute the inflation rate cost $100. What do you think is the chance that, at the end of that same year,
the same set of products cost less than $107.4?
Chance that the inflation rate in the randomly selected year X was lower than 7.4% is %