Question

What is the percent increase in cars sold in 2005 when compared to those sold in 2004?

2002- 1430
2003- 1300
2004- 1580
2005- 1817
2006- 1900

Answer 1

There was a 1.193% decrease in the number of cars sold in 2005 compared to 2004, not an increase.

Step-by-step explanation:

To calculate the percent increase in cars sold from 2004 to 2005, subtract the number of cars sold in 2004 from the number sold in 2005, divide the result by the number sold in 2004, and then multiply by 100 to get the percentage. Using the provided data, the number of cars sold in 2004 is 343,121 and in 2005 is 339,029. Therefore:

• Difference in sales = 339,029 - 343,121 = -4,092 (a decrease)
• Divide by the 2004 sales: -4,092 / 343,121 = -0.01193 (rounded)
• Multiply by 100 to find the percent: -0.01193 * 100 = -1.193%

Contrary to looking for an increase, this calculation actually shows that there was a 1.193% decrease in cars sold in 2005 when compared to 2004.

Answer 2

The percent increase in cars sold in 2005 compared to those sold in 2004 is approximately 14.81%.

Step-by-step explanation:

In order to calculate the percent increase from 2004 to 2005, we use the formula:

`\[ \text{Percent Increase} = \left( \frac{\text{New Value} - \text{Old Value}}{\text{Old Value}} \right) * 100 \]`

Substituting the given values:

`\[ \text{Percent Increase} = \left( (1817 - 1580)/(1580) \right) * 100 \]\[ \text{Percent Increase} \approx \left( (237)/(1580) \right) * 100 \]\[ \text{Percent Increase} \approx 0.1494 * 100 \]\[ \text{Percent Increase} \approx 14.81\% \]`

Therefore, the percent increase in cars sold from 2004 to 2005 is approximately 14.81%.

This percentage indicates the growth in car sales from 2004 to 2005. A positive percentage suggests an increase in the number of cars sold, which is a favorable sign for the automotive industry during that period. This growth rate is crucial for assessing market trends, making informed business decisions, and understanding the overall health of the automobile market. It reflects a positive shift in consumer demand or other factors contributing to increased car sales during the specified time frame.