Question

question
during one summer the average price of a gallon of gas was $2.74. the next winter the price changed to $2.52. what is the relative change? (round to the nearest hundredth if needed.)
provide your answer below:

Explanation:

Step1: Find the absolute change

The formula for absolute change is \( \text{Absolute Change}=\text{New Value}-\text{Old Value} \).
Here, the old value (summer price) is \( 2.74 \) and the new value (winter price) is \( 2.52 \).
So, \( \text{Absolute Change}=2.52 - 2.74=- 0.22\).

Step2: Calculate the relative change

The formula for relative change is \( \text{Relative Change}=\frac{\text{Absolute Change}}{\text{Old Value}}\).
Substitute the values: \( \text{Relative Change}=\frac{-0.22}{2.74}\).
\( \text{Relative Change}\approx - 0.08\) (rounded to the nearest hundredth).

Answer:

\(-0.08\)