Questions: Last month production at Mega Manufacturing was 650 units. This month they produced 586 units. What is the rate of change in production? 11.5% increase 12.3% decrease 9.8% decrease 22.3% increase

Solution Steps

To find the rate of change in production, we need to calculate the percentage change from last month's production to this month's production. This can be done by finding the difference between the two production values, dividing by last month's production, and then multiplying by 100 to convert it to a percentage.

The change in production from last month to this month can be calculated as: \[ \text{Change} = \text{This Month Production} - \text{Last Month Production} = 586 - 650 = -64 \]

The rate of change in production as a percentage is given by the formula: \[ \text{Rate of Change} = \left( \frac{\text{Change}}{\text{Last Month Production}} \right) \times 100 = \left( \frac{-64}{650} \right) \times 100 \approx -9.8462 \]

Since the rate of change is negative, it indicates a decrease in production. Rounding to one decimal place, we have: \[ \text{Rate of Change} \approx 9.8\% \text{ decrease} \]

Final Answer