Chapter 8.2, Problem 3GP

To determine

To describe how businesses can use ratios and write about a real-world situation in which a business would use a ratio.

Explanation of Solution

Calculation:

In business the ratios can be used in multiple ways. Like to compare the sales and production of any goods, to compare the revenue and profit on selling any particular product and many other things in business that can be compared using the ratios.

For example, let a company produced 1500 units of any product in one day and sells 1200 units on that particular day. So, the ratio of the number of units of that product sold to the number of units produced on that particular day can be given by $\frac{1200}{1500}=\frac{4}{5}$ . So, the ratio of the number of units sold to the number of units produced is $\frac{4}{5}$ .