PLS HELP ILL DO ANYTHINGG
Directions: You probably see them in the news all the time—predictions about
prices, jobs, stocks, and other aspects of the economy. Now it's your turn to predict
the future! Follow the directions to make and explain an economic prediction for an
article you have been asked to write in the Economic News.
1. Choose one item of interest to you in the Historical Pricing Chart on the next
page.
2. Calculate the percent of change of the item's price each decade, and use
your results to determine the average rate of change from 1980–2020.
3. Comment on the trend in your item’s percent of increases.
4. Go shopping! Find the average current price of your item online, in the
newspaper, or locally by looking at the price when you go to the store in the
next day or two. Does the current price match the trend from 1980–2020
that you identified? Explain your thinking.
5. Create a line graph or other visual model to show the pricing trend. Be sure
to include the current price in your model.
6. Predict the item's price at a future date. Use your calculations and visual
model to justify your prediction.
7. Organize your analysis, prediction, explanations, and visual model in a brief
news article. Your completed article will be submitted as your portfolio
assessment
Im doing U.S Postage Stamps
Historical Pricing Chart*
1980 Price: $0.15
1990 Price: $0.25
2000 Price: $0.33
2010 Price: $0.44
2020 Price: $0.55
To make an economic prediction for the U.S postage stamps, follow these steps:
1. Start by analyzing the Historical Pricing Chart provided. In this case, the prices for U.S postage stamps from 1980 to 2020 are given as follows:
- 1980 Price: $0.15
- 1990 Price: $0.25
- 2000 Price: $0.33
- 2010 Price: $0.44
- 2020 Price: $0.55
2. Calculate the percent change of the item's price each decade. To do this, subtract the initial price of each decade from the final price, divide it by the initial price, and then multiply by 100 to get the percentage change. The percentage change for each decade is as follows:
- 1980s: ((0.25 - 0.15) / 0.15) * 100 = 66.67%
- 1990s: ((0.33 - 0.25) / 0.25) * 100 = 32%
- 2000s: ((0.44 - 0.33) / 0.33) * 100 = 33.33%
- 2010s: ((0.55 - 0.44) / 0.44) * 100 = 25%
3. Calculate the average rate of change from 1980 to 2020. To do this, add up the percent changes from each decade and divide by the number of decades:
- Average rate of change: (66.67% + 32% + 33.33% + 25%) / 4 = 39.5%
4. Comment on the trend in the item's percent increases. In this case, the U.S postage stamps have shown a consistent upward trend in their prices over the decades, with an average increase of approximately 39.5% from 1980 to 2020.
5. Go shopping and find the average current price of U.S postage stamps. Check online, in the newspaper, or visit a local store to see the current price. Compare it to the trend identified in step 4. If the current price matches the predicted trend, explain your reasoning. For example, if the current price is $0.65 and the average increase per decade is around 39.5%, it would indicate that the current price aligns with the historical trend.
6. Create a line graph or other visual model to show the pricing trend of U.S postage stamps from 1980 to 2020. Include the current price in your model to demonstrate how it fits within the trend.
7. Finally, using your calculations and visual model, predict the future price of U.S postage stamps at a specific date. Justify your prediction by referring to the historical trend and any factors that may impact future pricing.
Once you have completed these steps, you can organize your analysis, prediction, explanations, and visual model into a brief news article, as required.