Chapter SH, Problem 3.3MPS

To determine

To find:The average rate of change in the cost.

Answer to Problem 3.3MPS

The percent of change to the nearest percentis $46\%$ .

Explanation of Solution

Given information:The given information is:

Averagecost in $2002$

  $x_1=\$0.50$ ,

Average cost in $2005$

  $x_2=\$0.27$ .

Calculation:

As the average cost in $2002$

  $x_1=\$0.50$ and average cost in $2005$

  $x_2=\$0.27$ .

The percentage change:

  $\begin{array}{l}Percentagechange=\frac{Newvalue-oldvalue}{oldvalue}\times 100\\ Percentagechange=\frac{x_2-x_1}{x_2}\times 100\end{array}$

The cost is decreased from $2002$ to $2005$ .

  $\begin{array}{l}Percentagechange=\frac{0.27-0.50}{0.50}\times 100\\ Percentagechange=\frac{0.23}{0.50}\times 100\\ Percentagechange=46\%\end{array}$

The Rate of change is defined as the change in one variable to the corresponding change in another variable.

Therefore, the percent of change to the nearest percent is $46\%$ .