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 Of multiply Three ways to use percentages Express a fractionDescribe a ChangeCompare Performance & Cost P% P/100 Reference Value Used when ComparingOften follows the words than, from, or ofCan be a total value, original value Compared Value In the Absolute and Relative difference equations.First # Absolute Difference Compared - ReferenceNew - Old Relative Difference Compared - Reference_______________________ Reference Name that equation28 pounds of recyclable trash in a barrel of 52 pounds of trash Described word equation% as a fraction28 lb / 52 lb Name the equation you used:The change of the sale price was decreased by \$149,000 Described answer for Absolute Change or Absolute DifferenceNew value - Reference value Name that equationThe sale price of a house in Feb. 2013 is about 50% less than Feb. 2008. Described answer for Relative Change or Relative DifferenceNew Value - Reference Value______________________________ Reference Value Name that EquationTacoma Narrows bridge is 1400 ft shorter than the golden gate bridge. Described answer for Absolute Change or Absolute DifferenceNew value - Reference value Identify Reference Value: The sale price of a house in Feb. 2013 is about 50% less than Feb. 2008. Reference Value Feb. 2008 When a quantity doubles in value it's relative change is? 100% When a quantity triples in value, its relative change is? 200% When a quantity quadruples in value, its relative change is? 300% When a quantity is halved in value, its relative change is? -50% If the new or compared value is P% MORE THAN the reference value, it is ____ of the reference value? (100 + P)% If the new or compared value is P% LESS THAN the reference value, it is ____ of the reference value? (100 - P)% Give an example of a Percentage Point 3% to 4% is an increase of 1 percentage point (Absolute change)Will NOT have a % sign Give an example of a % of percentages change Increase to 5% from 2% New Value - Reference Value------------------------------------------Reference Value5% - 2%----------2% What is the reference value? Interest increased from 3% to 4%. 3% is reference value because 4% is a new value & the word from is used before 3% (New Value - Reference Value) a format in which a number is expressed as a number between 1 and 10 multiplies by the power of 10 Scientific Notation Rewrite in Scientific notation3,900,000,000,000. 3.9 X 10 ^12 Rewrite in Scientific notation0.000 000 000 000 1 1 X 10 ^ -13 An estimate that specifies only a broad range of values, usually within one or two powers of ten, such as "in the ten thousands." DefinedOrder of Magnitude 1,000 greater than or equal to the distance that is less than 10,000 10 ^ 3 order of magnitude The digits in a number that represent actual measurments DefinedSignificant Digits Name Significant Digits345 ALL non zero digits are Significant Digits345 All Significant Name Significant Digits68.010 Zeros to the right of decimal and after non zero 68.010 All Significant Name Significant Digits500,000,001 Zeros between non zero500,000,001 All Significant Name Significant Digits500 Not Significant Digits are zeros to the left of decimal 5 is Significant in 500 Name Significant Digits0.000067 Not Significant Digits are zeros to the right of decimal before 1st non zero67is Significant in 0.000067 occurs because of a random and inherently unpredictable event in the measurement process Random Error occurs when there is a problem in the measurement system that affects all measurements in the same way, such as making them all too low or too high by the same amount. Systematic Errors What equation(s) do you uses to find the size of Errors Absolute and Relative Equations describes how closely a measured value is to the true value DefinedAccuracy A way to find which measurment is more accurate Absolute difference: measurement - true A way to find which measurement is more precise Don't change fractions into decimals.Decimals increase by placement (tenth or hundredth) where as fractions count up by adding identical fraction (1/4 counts to 1/2 then to 3/4 and then to 1) Round the answer16.5 +3.289 = 19.789 Addition / Subtraction: Round your answer to same precision as the least precise number19.8 Round the answer3213/52 = 61.79 Multiplication / Division: Round your answer to the number with the least number of significant digits Describes the amount of detail in a measurement. (How closely measurements are done) DefinePrecision This occurs when unequally sized groups are combined for an overall result. The results shift better / worse, or positive / negative."What is true for the part, isn't true for the all" DefinedSimpson's paradox How do you find your next total when 1% of the employees actually use drugs and the test is 85% accurate? User total = 0.01 X 2000 How do you find your next total when when 1% of the employees actually use drugs and the test is 85% accurate? Lying User = 0.85 X 20 How do you find your next total when when 1% of the employees actually use drugs and the test is 85% accurate? Truthful non-user = 0.85 X 1980 When Budgeting, you need to prorate.Define Prorate make income and expenses in the same units The balance upon which interest is paidInterest is paid only on your initial investment, not on interest added at later dates Definedsimple interest Interest paid both on original investment and earned interest. Compound interest Name the formulaA = P (1+rt) Simple interest Name the formula Compound Interest Write compound interest formula on a piece of paper In formulas, P stands for starting principal In formulas, A stands for accumulated balance after Y years APR is Annual percentage rate Monthly rate when APR is 24% APR------ = rate122% (rate) quarterly rate when APR is 8% APR------ = rate42% (rate) Name the Formula Continuous Compounding Write on a piece of paper the continuous compounding formula In the formulas, what is Y Number of years APY Annual Percentage Yield, effective yield, yieldactual % your balance increases in 1 yearEqual to APR if interest is compounded annuallyAPY uses the formula at which interest is added, always a 1 for Y Name the formula Savings plan formula Write the savings plan formula on a piece of paper In formulas, n stands for n = compounding periods per year Interest rates usually vary over time. What is the percentage change in the investment values over a time period? total returnnew value - starting principal-----------------------------------------starting principal Interest rates usually vary over time.What is the average annual rate at which your money grew over a time period? Annual rate Write the Annual Rate formula on a piece of paper The Total Return Formula is the relative difference formula a loan that is paid off with regular payments Defined Installment Loan Name the formula Installment Loan Formula Write the installment loan formula on a piece of paper Installment loan formula solves for Monthly Payment