Section 1.6 Multiplication and Division of Real Numbers 65 5b. The following chart shows the closing price of Apple’s stock for August 23 to August 27, 2010. (Source: http://www.google.com/finance/historical?q=NASDAQ:AAPL) Date Closing Price Daily Change in Price Percent Change in Price 8/27/2010 $241.62 8/26/2010 $240.28 8/25/2010 $242.89 8/24/2010 $239.93 8/23/2010 $245.80 n/a n/a i. Complete the chart by showing how the price of the stock changed from the previous day to the next and by calculating the percent change in the price for each day. ii. After completing the chart, find the average daily change in price. Solution 5b. i. The daily change in price is the difference in one day’s closing price and the previous day’s closing price. The percent change is the daily change divided by the previous day’s closing price. Date Closing Price Daily Change in Price Percent Change in Price 8/27 $241.62 241.62 - 240.28 = $1.34 1.34 240.28 = 0.0056 or 0.56% 8/26 $240.28 240.28 - 242.89 = -$2.61 -2.61 242.89 =-0.0107 or -1.07% 8/25 $242.89 242.89 - 239.93 = $2.96 2.96 239.93 = 0.0123 or 1.23% 8/24 $239.93 239.93 - 245.80 = -$5.87 -5.87 245.80 =-0.0239 or -2.39% 8/23 $245.80 n/a n/a ii. The average daily change in the closing price is the sum of the daily changes divided by the number of days. -5.87 + 2.96 + (-2.61) + 1.34 4 = -4.18 4 =-1.045 On average between August 23 and August 27, the closing price decreased by approximately $1.05 each day. Student Check 5 Solve each problem. a. The volume of a right circular cylinder is the square of the radius, times the product of π and the height of the cylinder. Write an equation that represents the volume of a right circular cylinder, where r is the radius and h is the height. Then use the equation to find the volume of a fuel oil storage tank that is a right circular cylinder with radius 24 in. and height 72 in. If there are 231 in.3 in a gallon, how many gallons will this tank hold? b. The following chart shows the closing price of Callaway Golf Company’s stock for August 9 to August 13, 2010. (Source: http://www.google.com/finance/ historical?q=NYSE:ELY) Date Closing Price Daily Change in Price Percent Change in Price 8/13/2010 $6.41 8/12/2010 $6.64 8/11/2010 $6.68 8/10/2010 $7.07 8/9/2010 $7.25 n/a n/a
hendricks_beginning_algebra_1e_ch1_3
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