Questions: Distinguish between absolute and relative change. Choose the correct answer below. A. Absolute change is the size of the actual increase or decrease from a reference value in comparison to the new value and can be expressed as a percentage. Relative change describes the actual increase or decrease from a reference value to a new value. B. Absolute change is the size of the actual increase or decrease from a reference value in comparison to the reference value and can be expressed as a percentage. Relative change describes the actual increase or decrease from a reference value to a new value. C. Absolute change describes the actual increase or decrease from a reference value to a new value. Relative change is the size of the absolute change in comparison to the reference value and can be expressed as a percentage. D. Absolute change describes the actual increase or decrease from a reference value to a new value. Relative change is the size of the absolute change in comparison to the new value and can be expressed as a percentage. Give an example that illustrates how a relative change is calculated. Choose the correct answer below. A. If the new value is 50 and the reference value is 20, then relative change = (50-20)/50 × 100% = 60%. B. If the new value is 50 and the reference value is 20, then relative change = 50-20 = 30. C. If the new value is 50 and the reference value is 20, then relative change = (50-20)/20 × 100% = 150%. D. If the new value is 50 and the reference value is 20, then relative change = 20-50 = -30.

Distinguish between absolute and relative change. Choose the correct answer below. A. Absolute change is the size of the actual increase or decrease from a reference value in comparison to the new value and can be expressed as a percentage. Relative change describes the actual increase or decrease from a reference value to a new value. B. Absolute change is the size of the actual increase or decrease from a reference value in comparison to the reference value and can be expressed as a percentage. Relative change describes the actual increase or decrease from a reference value to a new value. C. Absolute change describes the actual increase or decrease from a reference value to a new value. Relative change is the size of the absolute change in comparison to the reference value and can be expressed as a percentage. D. Absolute change describes the actual increase or decrease from a reference value to a new value. Relative change is the size of the absolute change in comparison to the new value and can be expressed as a percentage. Give an example that illustrates how a relative change is calculated. Choose the correct answer below. A. If the new value is 50 and the reference value is 20, then relative change = (50-20)/50 × 100% = 60%. B. If the new value is 50 and the reference value is 20, then relative change = 50-20 = 30. C. If the new value is 50 and the reference value is 20, then relative change = (50-20)/20 × 100% = 150%. D. If the new value is 50 and the reference value is 20, then relative change = 20-50 = -30.
Transcript text: Distinguish between absolute and relative change. Choose the correct answer below. A. Absolute change is the size of the actual increase or decrease from a reference value in comparison to the new value and can be expressed as a percentage. Relative change describes the actual increase or decrease from a reference value to a new value. B. Absolute change is the size of the actual increase or decrease from a reference value in comparison to the reference value and can be expressed as a percentage. Relative change describes the actual increase or decrease from a reference value to a new value. C. Absolute change describes the actual increase or decrease from a reference value to a new value. Relative change is the size of the absolute change in comparison to the reference value and can be expressed as a percentage. D. Absolute change describes the actual increase or decrease from a reference value to a new value. Relative change is the size of the absolute change in comparison to the new value and can be expressed as a percentage. Give an example that illustrates how a relative change is calculated. Choose the correct answer below. A. If the new value is 50 and the reference value is 20, then relative change $=\frac{50-20}{50} \times 100 \%=60 \%$. B. If the new value is 50 and the reference value is 20, then relative change $=50-20=30$. C. If the new value is 50 and the reference value is 20, then relative change $=\frac{50-20}{20} \times 100 \%=150 \%$. D. If the new value is 50 and the reference value is 20, then relative change $=20-50=-30$.
failed

Solution

failed
failed

Solution Steps

Step 1: Understanding Absolute and Relative Change

Absolute change refers to the actual increase or decrease from a reference value to a new value. It is simply the difference between the two values. Relative change, on the other hand, is the size of the absolute change in comparison to the reference value and is often expressed as a percentage. This helps to understand the change in context relative to the original value.

Step 2: Analyzing the Options for Absolute and Relative Change

Let's analyze the given options:

  • Option A: Incorrect. It incorrectly describes absolute change as a comparison to the new value and relative change as the actual increase or decrease.
  • Option B: Incorrect. It incorrectly describes absolute change as a comparison to the reference value expressed as a percentage.
  • Option C: Correct. It accurately describes absolute change as the actual increase or decrease and relative change as the size of the absolute change in comparison to the reference value, expressed as a percentage.
  • Option D: Incorrect. It incorrectly describes relative change as a comparison to the new value.
Step 3: Calculating Relative Change

Relative change is calculated using the formula:

\[ \text{Relative Change} = \left(\frac{\text{New Value} - \text{Reference Value}}{\text{Reference Value}}\right) \times 100\% \]

Let's analyze the given options for calculating relative change:

  • Option A: Incorrect. It uses the new value in the denominator instead of the reference value.
  • Option B: Incorrect. It calculates the absolute change, not the relative change.
  • Option C: Correct. It uses the correct formula for relative change.
  • Option D: Incorrect. It calculates the absolute change in the opposite direction.

Final Answer

  • The correct answer for distinguishing between absolute and relative change is: \(\boxed{\text{C}}\)
  • The correct example illustrating how a relative change is calculated is: \(\boxed{\text{C}}\)
Was this solution helpful?
failed
Unhelpful
failed
Helpful

Questions asked by other users

failedAnswered
Polynomial and Rational Functions Writing an inverse variation equation Suppose that y varies inversely with x, and y=5 when x=6. (a) Write an inverse variation equation that relates x and y. Equation: (b) Find y when x=-3. y=
failedAnswered
What is considered a best practice when a plece of equipment that uses compressed air is taken out of service? Check the equipment on a weekly basis to ensure there are no air leaks Shut off air flow to the equipment as far back in the distribution system as possible Install a flow meter in front of the out-of-service equipment to alert someone if too much air is flowing to the equipment Install a flow controller in advance of the out-of-service equipment to reduce pressure and minimize artificial demand
failedAnswered
Which of the following statements is false regarding the business valuation process? Multiple Choice Firms that earn less than the cost of equity capital produce negative abnormal earnings and generally have a share price below book value. Income or loss from discontinued operations is considered a transitory component of a firm's earnings. Forecasting future cash flows requires calculations using factors from future value tables. A component of earnings that is unrelated to future free cash flows or future earnings and is not pertinent to assessing current share price is considered a noise component.
failedAnswered
Simplify the radical expression. (Use absolute value signs, if appropriate.) √[4]5 x^4 y^6
failedAnswered
Convert 48 milliamps to amps. Input the value only.