absolute and relative change\na cellular service provider increased its market share from 34% to 56%…

absolute and relative change\na cellular service provider increased its market share from 34% to 56%. determine the absolute and relative change in this situation.\nabsolute change: market share increased by percentage points.\nrelative change: market share has increased by %.\nround your answer to the nearest tenth of a percent.\nquestion help: video message instructor\nsubmit question

absolute and relative change\na cellular service provider increased its market share from 34% to 56%. determine the absolute and relative change in this situation.\nabsolute change: market share increased by percentage points.\nrelative change: market share has increased by %.\nround your answer to the nearest tenth of a percent.\nquestion help: video message instructor\nsubmit question

Answer

Explanation:

Step1: Calculate absolute change

The formula for absolute change is $\text{Final value}-\text{Initial value}$. Here, the initial market - share is $34%$ and the final market - share is $56%$. So, the absolute change is $56 - 34=22$ percentage points.

Step2: Calculate relative change

The formula for relative change is $\frac{\text{Final value}-\text{Initial value}}{\text{Initial value}}\times100%$. Substitute the values: $\frac{56 - 34}{34}\times100%=\frac{22}{34}\times100%\approx 64.7%$

Answer:

Absolute Change: 22 Relative Change: 64.7