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Concept explainers
To find: The grocery item which had the greatest percent increase in cost from 2000 to 2005.
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Answer to Problem 43PPS
The required grocery item which had the greatest percent increase in cost from 2000 to 2005 is ground beef.
Explanation of Solution
Given information:
Table for the average retail price of selected grocery items:
Average Retail Prices of Selected Grocery Items | ||
Grocery Item | Cost in 2000 ($ per second) | Cost in 2005 ($ per pound) |
Milk (gallon) | 2.79 | 3.24 |
Eggs (dozen) | 0.96 | 1.35 |
Chicken (whole) | 1.08 | 1.06 |
Ground beef | 1.63 | 2.30 |
Apples | 0.82 | 0.97 |
Iceberg lettuce | 0.85 | 0.85 |
Peanut butter | 1.96 | 1.70 |
Calculation:
The given table for the average retail price is,
Average Retail Prices of Selected Grocery Items | ||
Grocery Item | Cost in 2000 ($ per second) | Cost in 2005 ($ per pound) |
Milk (gallon) | 2.79 | 3.24 |
Eggs (dozen) | 0.96 | 1.35 |
Chicken (whole) | 1.08 | 1.06 |
Ground beef | 1.63 | 2.30 |
Apples | 0.82 | 0.97 |
Iceberg lettuce | 0.85 | 0.85 |
Peanut butter | 1.96 | 1.70 |
Now, for milk;
Write the percent increase of price as,
For eggs;
Write the percent increase3 of price as,
For chicken;
Write the percent increase of price as,
For ground beef;
Write the percent increase of price as,
For apples;
Write the percent increase of price as,
For iceberg lettuce;
Write the percent increase of price as,
For peanut butter;
Write the percent increase of price as,
It is seen that the greatest percent increase in cost from 2000 from 2005 is 41%.
Hence, the required grocery item which had the greatest percent increase in cost from 2000 to 2005 is ground beef.
Chapter 2 Solutions
Algebra 1
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