Big Ideas Math A Bridge To Success Algebra 2: Student Edition 2015
Big Ideas Math A Bridge To Success Algebra 2: Student Edition 2015
1st Edition
ISBN: 9781680331165
Author: HOUGHTON MIFFLIN HARCOURT
Publisher: Houghton Mifflin Harcourt
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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 …
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 experime…
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Question
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Chapter 5.1, Problem 45E
To determine

To calculate : the rate of inflation for each item in the given table.

Expert Solution & Answer
Check Mark

Answer to Problem 45E

The inflation rate of potatoes per pound is 3.7% .

The inflation rate of hams per poundis 2.4% .

The inflation rate of eggs per dozen is 1.7% .

Explanation of Solution

Given information :

Consider the following information:

When the average price of an item increases from p1 to p2 , over a period of n years , the annual rate of inflation r is given by

  r=(p2p1)1n−1

The given table:

  Big Ideas Math A Bridge To Success Algebra 2: Student Edition 2015, Chapter 5.1, Problem 45E , additional homework tip 1

Calculation :

As per problem,

From the given table:

  Big Ideas Math A Bridge To Success Algebra 2: Student Edition 2015, Chapter 5.1, Problem 45E , additional homework tip 2

Period of inflation for all the items, n=100   [2013−1913]

The given formula for rate of inflation:

  r=(p2p1)1n−1

  • For potatoes
    • The base price is $0.016 , so p1=0.016

    The increased price is $0.627 , so p2=0.627

    Substitute the values of p1 , p2 ,and n in the rate- formula

      r=(0.6270.016)1100−1 =(62716)1100−1 ≈0.037=3.7%

    Therefore, the inflation rate of potatoes per pound is about 3.7% .

  • For hams
    • The base price is $0.251 , so p1=0.251

    The increased price is $2.693 , so p2=2.693

    Substitute the valuesof p1 , p2 ,and n in the rate- formula

      r=(2.6930.251)1100−1 =(2693251)1100−1 ≈0.024=2.4%

    Therefore, the inflation rate of hams per pound is about 2.4% .

  • For Eggs
    • The base price is $0.373 , so p1=0.373

    The increased price is $1.933 , so p2=1.933

    Substitute the values of p1 , p2 ,and n in the rate- formula

      r=(1.9330.373)1100−1 =(1933373)1100−1 ≈0.017=1.7%

    Therefore, the inflation rate of eggs per dozen is about 1.7% .

Thus, theinflation rates of potatoes, hams, and eggs are 3.7% , 2.4% , and 1.7% respectively.

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Chapter 5.1, Problem 44E
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Chapter 5.1, Problem 46E

Chapter 5 Solutions

Big Ideas Math A Bridge To Success Algebra 2: Student Edition 2015

Ch. 5.1 - Prob. 1ECh. 5.1 - Prob. 2ECh. 5.1 - Prob. 3ECh. 5.1 - Prob. 4ECh. 5.1 - Prob. 5ECh. 5.1 - Prob. 6ECh. 5.1 - Prob. 7ECh. 5.1 - Prob. 8ECh. 5.1 - Prob. 9ECh. 5.1 - Prob. 10E
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