Question

Worldwide gross sales of Barbie's Mattel brand were $1,009,500,000 in 2014 and $905,900,000 in 2015. What is the absolute and relative change in Mattel's gross sales from 2014 to 2015?Round your answer for relative change to the nearest hundredth of a percent.Do not round until your final answer.

Answer 1

(a) The absolute change is the difference in value within the two years, this becomes

`\begin{gathered} 905,900,000-1,009,500,000 \\ =-103,600,000 \end{gathered}`

Hence the answer is -103,600,000

(b) The relative change becomes

`\begin{gathered} \frac{905,900,000-1,009,500,000\text{ }}{initial\text{ value}}*100 \\ (-103,600,000)/(1,009,500,000)*100 \\ =-10.262506 \end{gathered}`

Hence the answer is -10.26%