I need help calculating GDP and trends, please.
Calculate the percentage change between the first and last years for each of the questions. What trends do you see?
** Please see the attached file for the data set **
** Please see the attached file for the complete solution response **
Formula used in the computation of percentage change is:
Percentage change = (Present data - Past data) / Past data * 100%
Hence, the GNP percentage change from 1997 to 1998 is:
GNP for 1997 is 8,332.40 (This is the past data.)
GNP for 1998 is 8,793.5 (This is the present data.)
So, applying the formula:
Percentage change = (Present data - Past data) / Past data * ...
The solution shows how to for the percentage change of GDP data. Trends and patterns were identified base on the given data.