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Titanic Fare Data
Data Tables, Economics Date posted: The RMS Titanic sank on The Encyclopedia Titanica website has individual level data about the passengers and crew of the Titanic (and data about individuals on the rescue ships). The data includes the individuals’ name (including title), age, ticket class, the fare they paid, where they boarded, and what life boat they were on (if they were on one). Decimalisation of Titanic FaresThe fare data in the Encyclopedia Titanica is in terms of Before
The following formula can be used to convert pre-decimalised amounts to decimalised amounts: Where:
Titanic Fare Data: Five-Number Summary by Class (Nominal and Decimalised)
Data Source: Encyclopedia Titanica Correcting for InflationTo estimate the fares in today’s prices, the figures were scaled using price indices. Two separate price index data sources were used to make the calculation. Source
1: Inflation: the Value of the Pound 1750-1998
Source
2: International Monetary Fund, World Economic Outlook Database
1912
to 2012 Price Comparison
The 1998 price index becomes: The 2012 price index becomes: The second step is to compare the 2012 price index with the 1912 price index. This means that the general price level today (for the Titanic Fare Data: Five-Number Summary by Class (2012 Prices and Decimalised)
Data Source: Encyclopedia Titanica External links:Encyclopedia TitanicaInflation: the Value of the Pound 1750-1998 See
also:
Different ways of measuring the Consumer Price Index (CPI) Index Numbers |
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