1. The typical (median) price of a single-family home in a certain region rose from $74,300 in 1989 to $171,000 in 2008.
Calculate the relative change in price from1989 to 2008 and compare it to the overall rate of inflation as measured by the Consumer Price Index. The picture below is for this question.
a.Home prices increased by ……..%
b.The overall rate of inflation was ……%
2.Last February there were 603,343 scheduled passenger flights in a certain country, and in February of 1996 there were 784,777.
Use a percentage to express the relative change. Use the second given value as the reference value. Also, write a statement describing the result.
a. The relative difference between April of 1996 and last April is…..%
b. There is a ( ) % (decrease or increase) in the number of scheduled passenger flights from February of 1996 to last February.
Round to the nearest percent as needed