1. Choose one item of interest to you in the Historical Pricing Chart on the next page. Movie Ticket
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 1960–2000.
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 1960–2000 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.
so, have you done even #1 yet?
yeah
it says movie ticket
so, on to #2
What have you done to research the change in prices?
and so on. All of these steps seem fairly straightforward. Just what is it you have trouble doing?
1. To choose one item of interest in the Historical Pricing Chart, you need to look at the chart provided and identify the item you are interested in. In this case, the chosen item is a movie ticket.
2. To calculate the percent of change for each decade, you will need to determine the price at the beginning and end of each decade using the historical pricing data in the chart. Then, you can use the following formula to calculate the percent of change:
Percent of Change = ((Ending Price - Starting Price) / Starting Price) * 100
Repeat this calculation for each decade. Once you have the percent of change for each decade, you can calculate the average rate of change from 1960-2000 by adding up all the percent changes and dividing by the number of decades.
3. Commenting on the trend in the item's percent of increases involves analyzing the calculated percent of change for each decade. Look for patterns such as increasing or decreasing percent changes over time. For example, if the percent of change consistently increases from decade to decade, it suggests a significant upward trend in the price of movie tickets.
4. To find the average current price of the movie ticket, you can check online platforms, newspapers, or local stores. Look for the most recent price information available. Once you have the price, compare it to the trend you identified from 1960-2000. If the current price aligns with the upward trend, it suggests that the pricing trend has continued. Conversely, if the price deviates significantly from the trend, it indicates a shift in the pricing pattern.
5. To create a line graph or visual model showing the pricing trend, you can plot the prices over time using the historical data from 1960-2000. The x-axis should represent the years or decades, and the y-axis should represent the prices. Add data points for each decade and draw a line connecting them. Finally, include the current price as a separate data point on the graph.
6. Predicting the item's price at a future date can be done by extending the established trend line on the graph. This prediction should be justified based on the average rate of change and the pattern observed in the historical data. For example, if the average rate of change shows a consistent increase in prices, it is reasonable to predict that the price of a movie ticket will continue to rise in the future.
7. To organize your analysis, prediction, explanations, and visual model in a brief news article, you can structure the article as follows:
- Introduction: Briefly describe the historical pricing chart and the chosen item (movie ticket).
- Analysis: Present the calculated percent of change for each decade and discuss the trend in the item's percent of increases.
- Comparison to Current Prices: Report the average current price of a movie ticket and explain whether it aligns with the trend identified from 1960-2000.
- Visual Model: Describe the line graph or visual model created to represent the pricing trend, including the current price data point.
- Prediction: Justify the prediction for the item's future price based on the average rate of change and the established trend.
- Conclusion: Summarize the findings and emphasize the importance of understanding historical pricing trends for informed decision-making.
Remember to adjust the content and structure of the article to fit the specific requirements of your portfolio assessment.