A price relative was computed for houses. The base period is 2005. The price relative in 2010 was 130. The interpretation of the price relative is that a. there has been a 130% increase in the price of houses from 2005 to 2010. b. there has been a 30% increase in the price of houses from 2005 to 2010. c. the price of houses in 2010 was $130 higher than the price in 2005. d. It is impossible to interpret the index.
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
- A price relative was computed for houses. The base period is 2005. The price relative in 2010 was 130. The interpretation of the price relative is that
|
a. |
there has been a 130% increase in the price of houses from 2005 to 2010. |
|
b. |
there has been a 30% increase in the price of houses from 2005 to 2010. |
|
c. |
the price of houses in 2010 was $130 higher than the price in 2005. |
|
d. |
It is impossible to interpret the index. |
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