Answer:
The relative change is -13.11% and absolute change is $0.32
Step-by-step explanation:
Relative Change:
Given
Initial Value = $2.76
Final Value = $2.44
Relative change is given by the formula:
[tex]Relative\ change= \frac{Final\ value-Initial\ Value}{Initial\ Value} * 100[/tex]
Putting the values
[tex]Relative\ change = \frac{2.44-2.76}{2.44} * 100\\=\frac{-0.32}{2.44} * 100\\=-0.1311*100\\=-13.11\%[/tex]
Absolute Change:
Absolute change is given by:
[tex]Absolute\ Change = |Final\ Value - Initial\ Value|\\= |2.44-2.76|\\= |-0.32|\\= 0.32[/tex]
Hence,
The relative change is -13.11% and absolute change is $0.32
