** Please help! Will give a lot of points!
Percent Predictions Portfolio
1. Select one item from the historical chart–gas, stamp, bread, eggs, hamburger, or movie ticket.
2. Calculate the average % change for each of the 4 time periods:
(2a) 1960- 1970
(2b) 1970- 1980
(2c) 1980- 1990
(2d) 1990- 2000
To calculate the percentage change, first find the difference between the two numbers you are comparing.
Then, divide that difference by the original number and multiply the answer by 100.
3. Calculate the mean of all the % changes.
Tip: To find the mean, add your calculated percent changes and divide the sum by the quantity of numbers you added, which in your case is 4.
4. Write about what you found and predict the price of your item in the future given the pricing trend.
Chose one item from the chart to base all your calculations
(From the picture)
1. Item picked from the chart *
-> gas
2a. Calculate the change 1960-1970. 1) Find the “raw” change in price. 2) Divide the change in price by the original price. 3) Express the decimal as a percent. Show all your work! *
2b. Calculate the change 1970-1980. 1) Find the “raw” change in price. 2) Divide the change in price by the original price. 3) Express the decimal as a percent. Show all your work! *
2c. Calculate the change 1980-1990. 1) Find the “raw” change in price. 2) Divide the change in price by the original price. 3) Express the decimal as a percent. Show all your work! *
2d. Calculate the change 1990-2000. 1) Find the “raw” change in price. 2) Divide the change in price by the original price. 3) Express the decimal as a percent. Show all your work! *
3. What is the average percent change? Tip: Add up all the changes and divide the sum of %change by 4 *
Write about what you found and predict the price of your item in the future, given the pricing trend. *
* Give all answers or no points! Take your time, this is due in a week! Also, if you can explain how you did it, that would be nice too!
