Percent Predictions
UNIT NAME: APPLICATIONS OF PERCENTS
Directions: You probably see them in the news all the time—predictions about
prices, jobs, stocks, and other aspects of the economy. Now it's your turn to predict
the future! Follow the directions to make and explain an economic prediction for an
article you have been asked to write in the Economic News.
1. 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.
© 2015 Connections Education LLC. All rights reserved. 2
Historical Pricing Chart*
Item 1960
Price
1970
Price
1980
Price
1990
Price
2000
Price
gallon of
gas $0.25 $0.36 $1.19 $1.35 $1.26
U.S.
postage
stamp
$0.04 $0.06 $0.15 $0.25 $0.33
loaf of
bread $0.20 $0.25 $0.48 $0.70 $1.72
dozen eggs $0.46 $0.59 $0.89 $1.00 $0.96
fast food
hamburger $0.15 $0.30 $0.50 $0.75 $0.89
movie ticket $0.69 $1.55 $2.60 $4.23 $5.39
* All prices are U.S. averages. i dont understand any of the directions and i only have today and tomorrow to finish please i need help fast
i haven't gotten anything done due to not understanding the gibberish sounding directions and im not able to actually ask my math teacher cause i know for a fact he would just say the directions again cause every single math teacher that ive had does that
so, what have you done so far?
I understand that you are feeling overwhelmed with the directions and the limited time you have to complete the task. Don't worry, I'll guide you step-by-step through each direction to help you complete the assignment on time.
Step 1: Choose one item of interest to you in the Historical Pricing Chart.
Look at the Historical Pricing Chart and select one item that interests you. This can be any item you find intriguing or want to explore further.
Step 2: Calculate the percent of change for the item's price each decade.
To calculate the percent of change, you need to find the difference between the prices of the item in each decade and then divide it by the starting price (1960) to get the percentage change. Repeat this process for each decade (1970, 1980, 1990, 2000).
For example, to calculate the percent of change for the gallon of gas:
- Percent change from 1960 to 1970: (0.36 - 0.25) / 0.25 = 0.44 or 44%
- Percent change from 1970 to 1980: (1.19 - 0.36) / 0.36 = 2.31 or 231%
- Continue this process for the remaining decades.
Once you have the percent change for each decade, add them up and divide by the number of decades (5) to find the average rate of change from 1960-2000.
Step 3: Comment on the trend in your item's percent of increases.
Analyze the percent increases for your chosen item. Is the percentage increasing or decreasing? Is there any pattern or trend you notice? Write a brief comment on the trend you observe based on the percent increases.
For instance, you might observe that the price of gas has generally increased over the decades with some fluctuations.
Step 4: Find the average current price of your item.
Go shopping either online, in the newspaper, or in local stores to find the average current price of your chosen item. Compare this price with the trend you identified in step 2. Does the current price match the trend from 1960-2000? Provide your reasoning for your answer.
Step 5: Create a line graph or other visual model to show the pricing trend.
Use the data from the Historical Pricing Chart to create a line graph or any other visual model that effectively represents the pricing trend for your chosen item. Be sure to include the current price you found in step 4 in your visual model.
Step 6: Predict the item's price at a future date.
Based on your calculations and the visual model you created, make a prediction for the item's price at a future date. Justify your prediction by referring to the trend and pattern you observed from 1960-2000.
Step 7: Organize your analysis, prediction, explanations, and visual model in a brief news article.
Write a news article that includes your analysis of the percent increase, the trend you observed, your prediction for the future price of the item, and an explanation of your prediction. Include the visual model you created in the article as well.
Don't forget to proofread your article for any errors or mistakes before submitting it as your portfolio assessment.
I hope this explanation helps you understand the directions better and gives you a clear roadmap to complete your assignment within the given time frame. If you have any further questions, feel free to ask!
Sure, I can help you understand the directions and guide you through the process. Let's break it down step by step:
1. Choose one item of interest to you in the Historical Pricing Chart: Look at the chart provided, and select one item that you find interesting. For example, you could choose "gallon of gas" or "movie ticket."
2. Calculate the percent of change of the item's price each decade: To calculate the percent of change, you need to find the difference between the initial price and the final price, and then divide that by the initial price. For example, for the item "gallon of gas," you would calculate the percent of change between 1960 and 1970, 1970 and 1980, and so on until 1990 and 2000. Add up all the percentages and divide by the number of decades (4) to find the average rate of change from 1960-2000.
3. Comment on the trend in your item’s percent of increases: Based on the percent of increases calculated in step 2, analyze the trend. Did the price of the item generally increase or decrease over the decades? Was the rate of increase consistent or did it vary? Write your observations on the trend.
4. Go shopping! Find the average current price of your item: Research the current price of your chosen item either online, in a newspaper, or by going to the store. Compare this current price to the trend you identified in step 3. Does the current price match the trend? Explain your thinking.
5. Create a line graph or other visual model to show the pricing trend: Use the data from the Historical Pricing Chart and the current price to create a line graph or any other visual model that represents the pricing trend. Make sure to include the current price in your model.
6. Predict the item's price at a future date: Use the calculations and visual model from steps 2 and 5 to make a prediction about the item's price at a future date. Justify your prediction by referring to the trend and the calculations you made.
7. Organize your analysis, prediction, explanations, and visual model in a brief news article: Write a news article that includes all the components mentioned above - analysis, prediction, explanations, and the visual model. Your article should be organized and provide clear information about your chosen item's pricing trend, the current price, and your prediction for the future price.
Remember to present your findings in a clear and concise manner in your news article. Good luck with your assignment!