Question

The number of associate degrees expected to be granted in 2001 is most nearly what percent greater than the number of associate degrees expected to be granted in 1995? 

• A. 2%
• B. 3%
• C. 5%
• D. 7%
• E. 9%

Hint:

Estimation can get you close to the answer quickly. \(\frac{31}{458}\) is close to \(\frac{30}{450} = \frac{3}{45} = \frac{1}{15}\). Knowing that \(\frac{1}{15}\) is about 6.7% helps you quickly identify 7% as the likely correct answer.

Answer 1

The Correct Option is D

Step 1: Understanding the Concept:
This question asks for the percent increase in the number of associate degrees from 1995 to 2001. The phrase "percent greater than" is equivalent to percent increase.
Step 2: Key Formula or Approach:
The formula for percent increase is:
\[ \text{Percent Increase} = \left( \frac{\text{New Value} - \text{Old Value}}{\text{Old Value}} \right) \times 100% \] Step 3: Detailed Explanation:
From the table, we find the number of associate degrees (in thousands):
- Old Value (1995) = 458.
- New Value (2001) = 489.
First, calculate the amount of increase:
\[ \text{Increase} = 489 - 458 = 31 \] Now, we use the percent increase formula. The base for the percentage is the original number from 1995.
\[ \text{Percent Increase} = \left( \frac{31}{458} \right) \times 100% \] To calculate this, we can divide 3100 by 458:
\[ \frac{3100}{458} \approx 6.768...% \] The question asks for the nearest percent. 6.768% is most nearly 7%.
Step 4: Final Answer:
The number of associate degrees in 2001 is most nearly 7% greater than the number in 1995.