The absolute change is calculated by subtracting the initial value from the final value:
Absolute change = Final Value - Initial Value
Absolute change = $42,000 - $88,000 = -$46,000
To find the relative change as a percentage, divide the absolute change by the initial value, then multiply by 100:
Relative change = (Absolute change / Initial Value) * 100
Relative change = (-$46,000 / $88,000) * 100
Relative change = -0.5227 * 100
Relative change = -52.3%
Therefore, the absolute change is -$46,000 and the relative change is -52.3%.
Measurements are made at two different times. Find the absolute change and then find the relative change as a percentage. Round answers to the nearest tenth.
Two years ago I earned $88,000. Last year I earned $42,000
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