Say a certain manufacturing industry has 63.1 thousand jobs in 2008, but is expected to decline at an average annual rate of 1.7 thousand jobs per year from 2008 to 2018. Assuming this holds true, what will be this industry’s percent change from 2008 to 2018? a.
70%
b.
-27%
c.
-17%
d.
-75%

Please select the best answer from the choices provided

A
B
C
D

The answer is B!

Step-by-step explanation:

To get the solution, we are looking for, we need to point out what we know.

1. We assume, that the number 63000 is 100% - because it's the output value of the task.

2. We assume, that x is the value we are looking for.

3. If 100% equals 63000, so we can write it down as 100%=63000.

4. We know, that x% equals 17000 of the output value, so we can write it down as x%=17000.

5. Now we have two simple equations:

1) 100%=63000

2) x%=17000

where left sides of both of them have the same units, and both right sides have the same units, so we can do something like that:

100%/x%=63000/17000

6. Now we just have to solve the simple equation, and we will get the solution we are looking for.

7. Solution for 17000 is what percent of 63000

100%/x%=63000/17000

(100/x)*x=(63000/17000)*x       - we multiply both sides of the equation by x

100=3.7058823529412*x       - we divide both sides of the equation by (3.7058823529412) to get x

100/3.7058823529412=x

26.984126984127=x

x=26.984126984127

now we have:

17000 is 27% of 63000

there is no question content here, but you for the free points! : d