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To determine which industry had the greatest percentage increase in sales between 1970 and 1974, we need to follow these steps:
1. List the industries and their sales percentages for the years 1970 and 1974.
2. Calculate the percentage increase for each industry from 1970 to 1974.
3. Identify which industry had the greatest percentage increase in sales.
4. Determine the corresponding percentage increase.
Here is the data provided:
[tex]\[ \begin{array}{|l|l|l|} \hline \text{Industry} & \text{\% of Sales in 1970} & \text{\% of Sales in 1974} \\ \hline \text{Petroleum} & 9.3 & 12.7 \\ \hline \text{Drugs} & 9.4 & 12.2 \\ \hline \text{Chemicals} & 5.0 & 8.2 \\ \hline \text{Motor Vehicles} & 2.4 & 2.7 \\ \hline \text{Electrical} & 3.3 & 3.9 \\ \hline \text{Food} & 2.5 & 2.8 \\ \hline \end{array} \][/tex]
Next, let's calculate the percentage increase for each industry from 1970 to 1974:
Using the formula for percentage increase:
[tex]\[ \text{Percentage Increase} = \left( \frac{\text{Sales in 1974} - \text{Sales in 1970}}{\text{Sales in 1970}} \right) \times 100 \][/tex]
1. Petroleum:
[tex]\[ \text{Percentage Increase} = \left( \frac{12.7 - 9.3}{9.3} \right) \times 100 = \frac{3.4}{9.3} \times 100 \approx 36.56\% \][/tex]
2. Drugs:
[tex]\[ \text{Percentage Increase} = \left( \frac{12.2 - 9.4}{9.4} \right) \times 100 = \frac{2.8}{9.4} \times 100 \approx 29.79\% \][/tex]
3. Chemicals:
[tex]\[ \text{Percentage Increase} = \left( \frac{8.2 - 5.0}{5.0} \right) \times 100 = \frac{3.2}{5.0} \times 100 \approx 64.00\% \][/tex]
4. Motor Vehicles:
[tex]\[ \text{Percentage Increase} = \left( \frac{2.7 - 2.4}{2.4} \right) \times 100 = \frac{0.3}{2.4} \times 100 \approx 12.50\% \][/tex]
5. Electrical:
[tex]\[ \text{Percentage Increase} = \left( \frac{3.9 - 3.3}{3.3} \right) \times 100 = \frac{0.6}{3.3} \times 100 \approx 18.18\% \][/tex]
6. Food:
[tex]\[ \text{Percentage Increase} = \left( \frac{2.8 - 2.5}{2.5} \right) \times 100 = \frac{0.3}{2.5} \times 100 \approx 12.00\% \][/tex]
Among the calculated percentage increases, the industry with the greatest percentage increase is Chemicals, with an increase of approximately 64.00%.
Therefore:
- The industry that had the greatest percentage increase in sales between 1970 and 1974 is Chemicals.
- The percentage increase was 64.00%.
1. List the industries and their sales percentages for the years 1970 and 1974.
2. Calculate the percentage increase for each industry from 1970 to 1974.
3. Identify which industry had the greatest percentage increase in sales.
4. Determine the corresponding percentage increase.
Here is the data provided:
[tex]\[ \begin{array}{|l|l|l|} \hline \text{Industry} & \text{\% of Sales in 1970} & \text{\% of Sales in 1974} \\ \hline \text{Petroleum} & 9.3 & 12.7 \\ \hline \text{Drugs} & 9.4 & 12.2 \\ \hline \text{Chemicals} & 5.0 & 8.2 \\ \hline \text{Motor Vehicles} & 2.4 & 2.7 \\ \hline \text{Electrical} & 3.3 & 3.9 \\ \hline \text{Food} & 2.5 & 2.8 \\ \hline \end{array} \][/tex]
Next, let's calculate the percentage increase for each industry from 1970 to 1974:
Using the formula for percentage increase:
[tex]\[ \text{Percentage Increase} = \left( \frac{\text{Sales in 1974} - \text{Sales in 1970}}{\text{Sales in 1970}} \right) \times 100 \][/tex]
1. Petroleum:
[tex]\[ \text{Percentage Increase} = \left( \frac{12.7 - 9.3}{9.3} \right) \times 100 = \frac{3.4}{9.3} \times 100 \approx 36.56\% \][/tex]
2. Drugs:
[tex]\[ \text{Percentage Increase} = \left( \frac{12.2 - 9.4}{9.4} \right) \times 100 = \frac{2.8}{9.4} \times 100 \approx 29.79\% \][/tex]
3. Chemicals:
[tex]\[ \text{Percentage Increase} = \left( \frac{8.2 - 5.0}{5.0} \right) \times 100 = \frac{3.2}{5.0} \times 100 \approx 64.00\% \][/tex]
4. Motor Vehicles:
[tex]\[ \text{Percentage Increase} = \left( \frac{2.7 - 2.4}{2.4} \right) \times 100 = \frac{0.3}{2.4} \times 100 \approx 12.50\% \][/tex]
5. Electrical:
[tex]\[ \text{Percentage Increase} = \left( \frac{3.9 - 3.3}{3.3} \right) \times 100 = \frac{0.6}{3.3} \times 100 \approx 18.18\% \][/tex]
6. Food:
[tex]\[ \text{Percentage Increase} = \left( \frac{2.8 - 2.5}{2.5} \right) \times 100 = \frac{0.3}{2.5} \times 100 \approx 12.00\% \][/tex]
Among the calculated percentage increases, the industry with the greatest percentage increase is Chemicals, with an increase of approximately 64.00%.
Therefore:
- The industry that had the greatest percentage increase in sales between 1970 and 1974 is Chemicals.
- The percentage increase was 64.00%.
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