(Transcript of audio with descriptions. Transcript includes narrator headings and description headings of the visual content)
(Speaker)
In the previous section, you calculated the percent change in production of computers, Blu-rays and pizzas.In this part you will repeat the process, but this time with prices.
(Description)
The economy of Britannica produces three goods: computers, Blu-rays, and pizzas. The accompanying table shows the prices and output of the three goods for the years 2012, 2013, and 2014. Table consists of 7 columns and 3 rows. Columns are as follows: 1 - year; 2 and 3 - price and quantity for computers, respectively; 4 and 5 - price and quantity for Blu-rays, respectively; 6 and 7 - price and quantity for pizzas. In 2012, the price of computers was 900 dollars, and the quantity was 10; the price of Blu-rays was 10 dollars and the quantity was 100; the price of pizzas was 15 dollars and the quantity was 2. In 2013, the price of computers was 1000 dollars, and the quantity was 10.5; the price of Blu-rays was 12 dollars and the quantity was 105; the price of pizzas was 16 dollars and the quantity was 2. In 2014, the price of computers was 1050 dollars, and the quantity was 12; the price of Blu-rays was 14 dollars and the quantity was 110; the price of pizzas was 17 dollars and the quantity was 3.
(Speaker)
The price of computers in 2012 was 900 dollars and increased to 1000 dollars in 2013. The percent change is found by taking the difference in prices between 2012 and 2013 and dividing by the price in 2012
(Description)
The prices of computers in 2012 and 2013 are highlighted in the table.
The percent change in the price of computers from 2012 to 2013 is presented: fraction, 1000 dollars minus 900 dollars in the numerator, 900 dollars in the denominator, times 100, equals 0.111 or 11.1 percent.
(Speaker)
For this problem, the difference in prices is 1000 dollars minus 900 dollars. Or 100 dollars divided by 900 dollars gives a percent change of 11.1 percent. Continuing with 2013 and 2014, the price of computers increased from 1000 dollars to 1050 dollars which is a 0.05 or 5 percent increase in the price of computers.
(Description)
The prices of computers in 2013 and 2014 are highlighted in the table.
The percent change in the price of computers from 2013 to 2014 is presented: fraction, 1050 dollars minus 1000 dollars in the numerator, 1000 dollars in the denominator, times 100, equals 0.05 or 5 percent.
(Speaker)
The price of Blu-rays in 2012 was 10 dollars and increased to 12 dollars in 2013.
(Description)
The prices of Blu-rays in 2012 and 2013 are highlighted in the table.
The percent change in the price of Blu-rays from 2012 to 2013 is presented: fraction, 12 dollars minus 10 dollars in the numerator, 10 dollars in the denominator, times 100, equals 20 percent.
(Speaker)
This corresponds to a 20 percent increase in price. The price of Blu-rays increased further in 2014 to 14 dollars.
(Description)
The prices of Blu-rays in 2013 and 2014 are highlighted in the table.
The percent change in the price of Blu-rays from 2013 to 2014 is presented: fraction, 14 dollars minus 12 dollars in the numerator, 12 dollars in the denominator, times 100, equals 16.7 percent.
(Speaker)
This corresponds with a 16.7 percent increase in the price relative to 2013. Finally, the price of pizzas increased from 15 dollars in 2012 to 16 dollars in 2013.
(Description)
The prices of pizzas in 2012 and 2013 are highlighted in the table.
The percent change in the price of pizzas from 2012 to 2013 is presented: fraction, 16 dollars minus 15 dollars in the numerator, 15 dollars in the denominator, times 100, equals 6.7 percent.
(Speaker)
This is a 6.7 percent increase in the price of pizzas. In 2014, the price of pizzas increased to 17 dollars, which results in a 6.25 percent increase in the price relative to 2013.
(Description)
The prices of pizzas in 2013 and 2014 are highlighted in the table.
The percent change in the price of pizzas from 2013 to 2014 is presented: fraction, 17 dollars minus 16 dollars in the numerator, 16 dollars in the denominator, times 100, equals 6.25 percent.