Answer:
The associated growth factor for a 30% increase is 1 + 0.30 = 1.30.
The associated growth factor for a 30% decrease is 1 - 0.30 = 0.70.
The associated growth factor for a 2% increase is 1 + 0.02 = 1.02.
The associated growth factor for a 2% decrease is 1 - 0.02 = 0.98.
The associated growth factor for a 0.04% increase is 1 + 0.0004 = 1.0004.
The associated growth factor for a 0.04% decrease is 1 - 0.0004 = 0.9996.
The associated growth factor for a 100% increase is 1 + 1 = 2.
Explanation:
A growth factor is a multiplier that represents the amount by which a quantity changes as a result of a growth rate or percentage change. It is calculated by adding 1 to the decimal form of the growth rate. For example, if the growth rate is 30%, the decimal form is 0.30, and the growth factor is 1 + 0.30 = 1.30.
In case of a decrease, the growth factor is calculated by subtracting the decimal form of the decrease rate from 1. For example, if the decrease rate is 30%, the decimal form is 0.30, and the growth factor is 1 - 0.30 = 0.70.
In cases where the growth rate is a small percentage, it is important to convert it into a decimal by dividing the percentage by 100 before calculating the growth factor.
In the case of a 100% increase, the quantity doubles, so the growth factor is 2 (i.e., 1 + 1).