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Percent as fraction
- part/total = %
- % * total = part
- part/% = total
- New- old
- if given in percents units for absolute change are percentage points
Absolute and Relative difference
- not absolute change
- percentage more than; percentage less than
- larger-smaller/the quantity after "than"
Increasing or decreasing by a percent
- # * (1 + .%) = Pecent increase
- # * (1 - .%)= Percent decrease
Successive percentage change
- multiple increases or decreases in percent
- org # * (1 +or- .%) = X
- X * (1 +or- .%) =Y
- continue as needed
Solve for Original
- Finding original # that has been reduced = new/(1-.%)
- Finding original # that has been increased = new/(1+.%)
percent more or less than
- Assuming A=5; B=4
- A is what percent more than B =25% more
- B is what percent less than A =20% less
- Assuming A=5; B=4
- A is what percent of B = 125%
- B is what percent of A = 80%
Rate per 10,000
Example death rates of hunting
- 600 deaths/2000000 hunters = .0003
- .0003*10,000 = 3
- 3 deaths per 10,000 participants
- y = mx + b
- where m=slope or rate of change
- b= y intercept or inital value
- yintercept or inital value= y value when x equals 0
Rate of change formula?
- y = P*(1+or-r)^x
- Where P = inital value(value of y when x = 0)
- r = percent change (in decimal form)
- x = independent variable (usually time)
- y = dependent variable
For an increase of 1 in x, y increases or decreases by a constant percent change.
as the x variable increases by 1, the y variable increases or decreases by a certain amount (rate of change)
Finding ratio of CPI?
new years CPI/old years CPI = CPI ratio
Converting to constant dollars?
X dollars in old year is worth how much in new year constant dollars
new year CPI/ old year CPI * X dollars = X dollars in new year constant dollars
Annual Inflation rate?
- Percentage change in the CPI in one year from previous year
- for example
- 1996 CPI-1995CPI/1995 CPI = Inflation rate
162.6-157.9/157.9 = 3.0% inflation rate for 1996
Finding monthly payments using excel?
- fx icon in formula bar
- drop down menu > finacial > PMT > box appears
- Enter rate = APR (as a decimal) divided by 12
- Enter NPer (total # of payments)= # of years *12
- Enter Pv (principal) = amount of loan as negative # no commas
Absolute cell reference?
used to lock in a cell reference in a formula when working on tables so that as formula moves down the table it still refers to correct cell.
enter cell reference than hit F4 button