Question

absolute and relative change
a cellular service provider increased its market share from 34% to 56%. determine the absolute and relative change in this situation.
absolute change: market share increased by percentage points.
relative change: market share has increased by %.
round your answer to the nearest tenth of a percent.
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Explanation:

Step1: Calculate absolute change

The formula for absolute change is $\text{Final value}-\text{Initial value}$. Here, the initial market - share is $34\%$ and the final market - share is $56\%$. So, the absolute change is $56 - 34=22$ percentage points.

Step2: Calculate relative change

The formula for relative change is $\frac{\text{Final value}-\text{Initial value}}{\text{Initial value}}\times100\%$. Substitute the values: $\frac{56 - 34}{34}\times100\%=\frac{22}{34}\times100\%\approx 64.7\%$

Answer:

Absolute Change: 22
Relative Change: 64.7