Managers of golf pro shops anticipate the total revenue for an upcoming year bas

Question

Managers of golf pro shops anticipate the total revenue for an upcoming year based on the predicted total number of rounds that will be played at their course. They do this by looking at the total number of rounds played in prior years. Assume there were 34,088 rounds played 3 years ago and 39,315 rounds played this year.

Calculate the average rate of change and use it to predict the number of rounds to be played 2 years from now. (Round your answers to the nearest whole number.)

rounds

Calculate the annual percentage change and use it to predict the number of rounds to be played 2 years from now. (In the first answer blank, round your answer to one decimal place. In the second answer blank, round your answer to the nearest whole number.)

rounds

Explanation / Answer

1.
In 3 years change = 39315 - 34088 = 5227 rounds
Average rate of change = 5227/3 = 1742 rounds/year

2.
Predicted number of rounds = 39315 + 2*1742 = 42799

3.
percentage change = 1742*100/34088 = 5.1 %

4.
after 2 years change = 2*5.1 = 10.2 %
Predicted number of rounds = 39315 + 10.2% of 39315
= 43325

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