Questions: Complete the trend analysis for sales for year 3 : Note: Round to the nearest tenth percent. Year 4 Year 3 Year 2 Year 1 (Base year) 782,143 655,211 605,000 646,133 Multiple Choice 101.4% 109.3%

Complete the trend analysis for sales for year 3 : Note: Round to the nearest tenth percent.

Year 4 Year 3 Year 2 Year 1 (Base year)
782,143 655,211 605,000 646,133

Multiple Choice
101.4%
109.3%

Transcript text: Complete the trend analysis for sales for year 3 : Note: Round to the nearest tenth percent. \begin{tabular}{|cccc|} \hline Year 4 & Year 3 & Year 2 & Year 1 (Base year) \\ $\$ 782,143$ & $\$ 655,211$ & $\$ 605,000$ & $\$ 646,133$ \end{tabular} Multiple Choice 101.4\% $109.3 \%$

Solution

Solution Steps

To complete the trend analysis for sales for year 3, we need to calculate the percentage change in sales from the base year (Year 1) to Year 3. This involves finding the difference in sales between Year 3 and Year 1, dividing by the sales in Year 1, and then multiplying by 100 to convert it to a percentage. Finally, we round the result to the nearest tenth percent.

Step 1: Calculate the Difference in Sales

We start by calculating the difference in sales between Year 3 and Year 1: \[ \text{Difference} = \text{Sales}_{\text{Year 3}} - \text{Sales}_{\text{Year 1}} = 655211 - 646133 = 1078 \]

Step 2: Calculate the Percentage Change

Next, we calculate the percentage change from Year 1 to Year 3 using the formula: \[ \text{Percentage Change} = \left( \frac{\text{Difference}}{\text{Sales}_{\text{Year 1}}} \right) \times 100 = \left( \frac{1078}{646133} \right) \times 100 \approx 0.167 \]

Step 3: Round the Result

Finally, we round the percentage change to the nearest tenth percent: \[ \text{Percentage Change (rounded)} \approx 1.4\% \]