PLS HELP ME I AM SUPER BEHIND AND DONT UNDERSTAND THIS
Percent Predictions
UNIT NAME: APPLICATIONS OF PERCENTS
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 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.
© 2015 Connections Education LLC. All rights reserved. 2
Historical Pricing Chart*
Item 1960
Price
1970
Price
1980
Price
1990
Price
2000
Price
gallon of
gas $0.25 $0.36 $1.19 $1.35 $1.26
U.S.
postage
stamp
$0.04 $0.06 $0.15 $0.25 $0.33
loaf of
bread $0.20 $0.25 $0.48 $0.70 $1.72
dozen eggs $0.46 $0.59 $0.89 $1.00 $0.96
fast food
hamburger $0.15 $0.30 $0.50 $0.75 $0.89
movie ticket $0.69 $1.55 $2.60 $4.23 $5.39
* All prices are U.S. averages. i dont understand any of the directions and i only have today and tomorrow to finish please i need help fast
omg life saver thank you so much. my teachers are so useless
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.
bread $0.20 $0.25 $0.48 $0.70 $1.72
So, the price in 1960 was 0.20
and the price in 2000 was 1.72
actual change: 1.72-0.20 = 1.52
% change = 1.52/0.20 - 1 = 6.6 or an increase of 660%
That is a growth rate of 7.60^(1/40) = 1.052 or 5.2% per year
See what you can do with that.
so, what have you done so far, since you last posted this question?
Have you at least chosen an item of interest?
I have chosen bread
im just so lost with all the steps
thank you i asked my teacher and he told me the directions acting like the directions is what i asked for even though i told him i printed the directions out
I understand that you're feeling overwhelmed and need help with understanding and completing the assignment on percent predictions. I'll try my best to guide you through the process step by step. Here's what you need to do:
1. Choose one item of interest to you from the Historical Pricing Chart.
- Look at the chart and select one item that catches your attention or interest. For example, you could choose the price of a gallon of gas.
2. Calculate the percent of change of the item's price each decade.
- To calculate the percent of change, you need to find the difference between the prices of the item in each decade.
- Subtract the price in the initial year (1960) from the price in the next decade, and divide it by the price in the initial year. Multiply the result by 100 to get the percentage.
- Repeat this process for each decade.
- For example, to calculate the percent of change for the price of a gallon of gas from 1960 to 1970, you would subtract $0.25 from $0.36, divide the result by $0.25, and multiply by 100.
3. Determine the average rate of change from 1960–2000.
- Add up the percent of changes calculated for each decade and divide the sum by the total number of decades (5 in this case). This will give you the average rate of change for the item's price from 1960 to 2000.
4. Comment on the trend in your item's percent increases.
- Analyze the average rate of change you calculated in the previous step.
- If the average rate of change is positive, it indicates that the price of the item has generally increased over time. If it's negative, it means the price has generally decreased.
- Comment on the trend you observe. For example, you could say that the item's price has steadily increased over the years or that it has fluctuated with no clear pattern.
5. Find the average current price of your item.
- Go shopping either online, in the newspaper, or locally to check the current price of the item.
- Compare the current price to the trend you identified from 1960 to 2000. Does the current price match the trend? Explain your reasoning.
6. Create a line graph or visual model to show the pricing trend.
- Use the data from the Historical Pricing Chart to create a line graph or another visual model to represent the pricing trend of your chosen item.
- Be sure to include the current price you found in the previous step on your graph or model.
7. Predict the item's price at a future date.
- Use the calculations you made and the visual model you created to make a prediction about the future price of the item.
- Justify your prediction by explaining how you arrived at it based on the historical data and pricing trend.
8. Organize your analysis, prediction, explanations, and visual model in a brief news article.
- Write a news article that includes your analysis, prediction, explanations, and visual model.
- Make sure to follow the format and presentation style of a news article.
- Submit the completed article as your portfolio assessment.
Remember to take one step at a time and break down the tasks into smaller, manageable parts. Take a deep breath, gather the necessary information, and start working on each step. Good luck!