Question

Online jewelry sales have increased steadily over the last several years. In 2003, sales were approximately 2 billion dollars, and in 2009 they were approximately 14.2 billion.

(i) Find the unit rate at which online jewelry sales have been increasing.

Answer 1

The unit rate of increase in online jewelry sales from 2003 to 2009 was approximately 2.033 billion dollars per year, calculated by dividing the total increase of 12.2 billion dollars by 6 years.

Step-by-step explanation:

To determine the unit rate at which online jewelry sales have been increasing, we need to find the average annual increase in sales over the given period. Let's calculate the total increase from 2003 to 2009, which is 14.2 billion dollars minus 2 billion dollars, resulting in an increase of 12.2 billion dollars over 6 years. To find the unit rate, or the average annual increase, we divide the total increase by the number of years:

Unit rate = Total increase ÷ Number of years

Unit rate = $12.2 billion ÷ 6 years

Unit rate = $2.033 billion per year

So, the unit rate of increase in online jewelry sales from 2003 to 2009 was approximately 2.033 billion dollars per year.