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Absolute Change and Relative Change Discussion

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Part A
Choose/Research a value that has an old value and a current (or new) value. Show how to calculate the absolute and relative change for your values. Use the absolute and relative change in a meaningful sentence that describes how your values have changed in context. Ideas for values: How has World (or local) population changed since you were born? How have prices/salaries changed in the last decade?

Part B
Choose/Research a set of values to compare. Show how to calculate the absolute and relative change for your values. Use the absolute and relative change in a meaningful sentence that describes how your values compare in context. Ideas for values: How does your height compare to someone else's? How does Ivy Tech's Tuition compare to another college's? Comparison of the populations of two countries.

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Solution Summary

Step by step instructions are provided and meaningful sentences describing the calculations are given.

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Part A
Step 1) Select a topic for comparison.

We will compare average home prices in Texas.

Step 2) Research the topic.

The following website lists home prices in Texas for multiple months and years.
https://www.recenter.tamu.edu/data/housing-activity/#!/activity/State/Texas
We will use the Median Home Prices in Texas in the Annual tab of the website.

Step 3) Select a time period in which to compare the average home prices in Texas.

We will select 2013 to 2022.

Step 4) Get the data for the selected years from the website.

In 2013, the average price of homes was $223,329
In 2022, the average price of homes was $413,328

The average home price in Texas increased from $223,329 in ...

Solution provided by:
J Pye, MSc
Education
  • MSc, California State Polytechnic University, Pomona
  • MBA, University of California, Riverside
  • BSc, California State Polytechnic University, Pomona
  • BSc, California State Polytechnic University, Pomona
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