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Copyright © 2011 Pearson Education, Inc. Numbers in the Real World
Copyright © 2011 Pearson Education, Inc. Slide 3-3 Unit 3A Uses and Abuses of Percentages
Calculating Percents The key to calculating percents, in my opinion is to understand the words percent, is and of. Percent means for each 100. So the key is the following: Copyright © 2011 Pearson Education, Inc. Slide 3-4
Example 1 Copyright © 2011 Pearson Education, Inc. Slide is what % of 62? Is = 29, of = 62, % = ? x = %
Example 2 What is 48% of 1300? Copyright © 2011 Pearson Education, Inc. Slide 3-6 Is = x, of = 1300, % = 48 x = 624
Example is 180% of what? Copyright © 2011 Pearson Education, Inc. Slide 3-7 Is = 350, of = x, % = 180 x =
3-A Copyright © 2011 Pearson Education, Inc. Slide 3-8 As fractions: 15% of the of the 850 students in a school were absent. To describe change: The price of a stock increased 75% from $50 per share. For comparisons: A Mercedes costs 25% more than a Lexus. Three Ways of Using Percentages
3-A Copyright © 2011 Pearson Education, Inc. Slide 3-9 The absolute change describes the actual increase or decrease from a reference value (starting number) to a new value: absolute change = new value – reference value The relative change is a fraction that describes the size of the absolute change in comparison to the reference value: Absolute and Relative Change
3-A Copyright © 2011 Pearson Education, Inc. Slide 3-10 Example: A diversified portfolio grows from $1,500 to $2,250. absolute change= new value – reference value = $2,250 – $1,500 = $750 = $750 / $1,500 = 0.5 = 50% relative change= Absolute vs. Relative Change
3-A Copyright © 2011 Pearson Education, Inc. Slide 3-11 The absolute difference is the actual difference between the compared value and the reference value: absolute difference = compared value – reference value The relative difference describes the size of the absolute difference as a fraction of the reference value: Absolute and Relative Difference
3-A Copyright © 2011 Pearson Education, Inc. Slide 3-12 If the compared value is P% more than the reference value, it is (100 + P)% of the reference value. If the compared value is P% less than the reference value, it is (100 – P)% of the reference value. Of versus More Than (or Less Than)
3-A Copyright © 2011 Pearson Education, Inc. Slide 3-13 Percentages of Percentages Example: If a bank increases its interest rate from 4% to 5%, the interest rate increased by 1 percentage point. When a change or difference is expressed in percentage points, assume it is an absolute change or difference. with the % sign or the word percent, it is a relative change or difference.
3-A Copyright © 2011 Pearson Education, Inc. Slide 3-14 Solving Percentage Problems If the compared value is P% more than the reference value, then and If the compared value is less than the reference value, use (100 – P) instead of (100 + P) in the above calculations.
3-A Copyright © 2011 Pearson Education, Inc. Slide 3-15 You purchase a shirt with a labeled (pre-tax) price of $21. The local sales tax rate is 6%. What is your final cost (including tax)? final cost = labeled price + (6% of labeled price) = ( )% x labeled price = 106% x $21 = 1.06 x $21 = $22.26 Solving Percentage Problems
3-A Copyright © 2011 Pearson Education, Inc. Slide 3-16 Abuses of Percentages Beware of Shifting Reference Values A 10% pay cut is followed by a 10% pay raise. Less than Nothing Decrease caloric intake by 150% to lose weight. Don’t Average Percentages If 70% of the boys and 60% of the girls in a class voted to go to a water park, then 65% of the students in the class voted to go to the water park.
3-A In-Class Group Assignment P. 141– – 96 multiples of 3 Copyright © 2011 Pearson Education, Inc. Slide 3-17
Slide 1 of 48 Measurements and Their Uncertainty
Copyright © 2007 Pearson Education, Inc. Slide R-2 Chapter R: Reference: Basic Algebraic Concepts R.1Review of Exponents and Polynomials R.2Review of.
C HAPTER Elasticity of Demand and Supply price elasticities of demand and supply, income and cross elasticities of demand, and using elasticity to forecast.
Copyright © 2011 Pearson Education, Inc. Putting Statistics to Work.
Jeopardy Converting Fractions and Decimals Rational Numbers Mult. & Div Rational Numbers Add/Sub Fractions Q $100 Q $200 Q $300 Q $400 Q $500 Q $100 Q.
Lesson Menu Five-Minute Check (over Lesson 5–7) Main Idea and Vocabulary Key Concept: Percent of Change Example 1:Real-World Example: Find Percent of Change.
© Boardworks Ltd of 56 Percentages Stage 7 Chapter.
Chapter 5 Formulas Introduction to Valuation: The Time Value of Money McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights.
Indicator: K When 27 is divided by 2/3, the result will be a number A) between 0 and 9. B) between 9 and 18. C) between 18 and 27. D) between 27.
Elasticity and its Application E conomics P R I N C I P L E S O F N. Gregory Mankiw Premium PowerPoint Slides by Ron Cronovich 5.
Slide Slide 1 Copyright © 2007 Pearson Education, Inc Publishing as Pearson Addison-Wesley. Lecture Slides Elementary Statistics Tenth Edition and the.
Copyright © 2002 Pearson Education, Inc. Slide 1.
1 Learning Objectives for Section 3.2 After this lecture, you should be able to Compute compound interest. Compute the annual percentage yield of a compound.
Holt CA Course Percent of a Number Warm Up Warm Up California Standards California Standards Lesson Presentation Lesson PresentationPreview.
Section 1-2: Exponents and Order of Operations Objectives: (1) To Simplify and evaluate formulas and expressions (2) To add, subtract, multiply and divide.
CHAPTER 2 Solving Equations and Inequalities Slide 2Copyright 2011, 2007, 2003, 1999 Pearson Education, Inc. 2.1Solving Equations: The Addition Principle.
Section 8.1 D1 Percents Math in Our World. Learning Objectives Convert between percent, decimal, and fraction form. Perform calculations involving.
Copyright © 2011 Pearson Education, Inc. Managing Your Money.
3.1 Using and Expressing Measurements > 1 Copyright © Pearson Education, Inc., or its affiliates. All Rights Reserved. Chapter 3 Scientific Measurement.
1 CHAPTER 9 The Cost of Capital. 2 Topics in Chapter Cost of capital components Debt Preferred stock Common equity WACC We ignore flotation cost in this.
1 Copyright © 2014, 2010, and 2006 Pearson Education, Inc. Absolute-Value Equations and Inequalities Equations with Absolute Value Inequalities with Absolute.
Division Leicestershire Numeracy Team Division.
Copyright © 2002 Harcourt, Inc.All rights reserved. Types of hybrid securities Preferred stock Warrants Convertibles Features and risk Cost of capital.
McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.
Fractions, Decimals, and Percents Parts of the whole.
Transparency 7 Click the mouse button or press the Space Bar to display the answers.
Slide 1 of 43 Slide 1 of 43 Conversion Problems 3.3.
Interesting Integers!. What You Will Learn Some definitions related to integers. Rules for adding and subtracting integers. A method for proving that.
End Show © Copyright Pearson Prentice Hall Slide 1 of Measurements and Their Uncertainty On January 4, 2004, the Mars Exploration Rover Spirit landed.
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