Question

Labor Lab (2008) NYT

1) how many people (in the millions) in April of 2008 were looking for a full-time job while they were working part time?

2) the 4.1 in the picture represents?

3) the 4.7 (million people) in the picture is the new or the old value based on the previous month for our percent change calculation?

4) to get to the other value, the 4.1 has to be considered:

5) using the "grandma" formula: N=G(1+x/100) find how many people who were currently looking for a job in March 2008. round to the nearest 100th of a million.​

Answer 1

see below

Explanation:

1) 5.2 million were working part time and looking for full-time work

2) 4.1 is the percentage change since March 2008 of the number looking for work

3) 4.7 is the new value with respect to the percentage change

4) As in (2), the percentage change from March (the old value)

5) G = 4.51 (millions) using the formula with N=4.7 and x = 4.1.