I am supposed to do this: 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.
and this is what I wrote down, but I'm not sure if it makes sense: 1960-1970 percent of change:0.36-0.25=0.11*100 /0.25= 44% change increase
1970-1980 percent of change:1.19-0.36=0.83*100=83/0.36 =230.5% percent increase
1980-1990 percent of change:1.35-1.19=0.16 *100=16/1.35=11.8% increase
1990-2000 percent of change:1.35-1.26=0.09*100=9/ 1.35=6.6 percent decrease
Now i will do 44+230.5+11.8 +6.6= 292.9 /4 = 73.2 so the average rate of change is 73% or 19.8 cents per year
Well, only 1960-1970 and 1970-1980 and 1980-1990 is a percent of increase. I notice that as society progressed in the 1960s -2000 they started to increase the cost which made the percent of increase go up especially in 1970-1980
Now a gallon of gas is about 3.30 dollars I am guessing because of the disease that started in 2020 because people aren't working and businesses closing down
I definitely think it's going to go up to 4 dollars
0.25 would be worth less now a days that why prices are going up over the years
i know its a lengthy read but please help
It seems like you are working on analyzing historical pricing data and making predictions for an item of interest. Let's review your work and see if it makes sense:
1. Choosing an Item of Interest:
You have not mentioned which item you have chosen. Make sure to select a specific item from the Historical Pricing Chart.
2. Calculating Percent Change:
To calculate the percent change for each decade, you need to have the prices at the beginning and end of each decade. It appears that you have subtracted two values from different decades, which may not provide accurate results. Ensure you have the correct data for each decade to calculate precise percent changes.
3. Determining Average Rate of Change:
To find the average rate of change from 1960-2000, you should sum up the percent changes for each decade and divide it by the number of decades considered. From the calculations you provided, you correctly calculated the average rate of change as 73%. However, your interpretation states that it is "73% or 19.8 cents per year." Double-check this calculation to ensure consistency.
4. Comparing Current Price and Trend:
You mentioned that the current price for your item is $3.30 for gas. But it is unclear whether this corresponds to the item you were analyzing, or if this is an additional example. Make sure to compare the current price of the item you are studying with the trend identified from 1960-2000. Explain your reasoning for whether the current price matches the trend or not.
5. Creating a Visual Model:
You are instructed to create a line graph or visual model to represent the pricing trend. Ensure you include the current price in your model, and it should be consistent with your analysis and predictions.
6. Predicting Future Price:
To predict the future price, you should use the calculations and visual model you have created. Explain your reasoning and provide justification for your prediction.
7. Organizing Analysis, Predictions, and Explanations:
Compile all of your analysis, predictions, explanations, and the visual model into a brief news article format. This article will serve as your portfolio assessment.
Overall, your response demonstrates some understanding of the task but may need refinement and clarification in certain areas. Double-check your calculations, ensure that you are analyzing the correct item, and organize your thoughts coherently into the news article format.