The following table shows the value B, in billions of dollars, of new constructi

Question

The following table shows the value B, in billions of dollars, of new construction put in place in the United States during year t 8 Value of 831.1 8915 1167.6 35.6 tYear 2003 2009 (e) Make a table showing, for each of the 3-year periods, the average yearly rate of change in B. (Round your answers to two decimal pla Period 2000 to 2003 2003 to 2006 2006 to 2009 Rate of change in bilion dollars per year) (b) Explain in practical terms what 8(2008) means. 8(2008) is the year in which new construction spending totaled 2008 (in billions of dollars). B(2008) is the year in which new construction spending exceeded 2008 (in billions of dollars). B(2008) is the value (in billions of doliars) of new construction put in place in the United States in 2008. 8(2008) is the value (in billions of dollars) of new construction put in place in the United States before 2008. Estimate 2008). (Round your answer to two deomal places.) billion dollars (c) Over what period was the growth in value of new construction the greatest? before 2000 2000 to 2003 2003 to 2006 2006 to 2009 (d) According to the table, in what year was the value of new construction the greatest? 2000 2003 2006 2009

Explanation / Answer

Hi,
a) We want to find the rate of change between the time period given,
hence we need to use the formula (Rate at end of period - Rate at start of period) / Time period
i.e for 2000-2003 it is (891.5-831.1)/3=20.13 billion dollars per year
i.e for 2003-2006 it is (1167.6-891.5)/3=92.03 billion dollars per year
i.e for 2006-2009 it is (935.6-1167.6)/3=-77.33 billion dollars per year (decrease )
b) Here B(2008) means the amount spent in constructions by United states in 2008(C)
the other options are not right, because the first two options treat 2008 as billion value but it is year and the last option, talks about a previous year rather than the curren one
c) the period with greatest growth is 2003-2006 from the values above
d) the absolute value of the construction was greatest in 2006 i.e 1167.6
Thumbs up if this was helpful, otherwise let me know in comments

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.