Question

over the past decade, the percentage of renters in a given area who were
ent burdened\ (meaning they spent more than 30% of their pretax income on rent) increased from 33% to 37%. describe this change as an absolute change in terms of percentage points and as a relative change in terms of a percentage.

describe the change as an absolute change in terms of percentage points.

the percentage of renters who were
ent burdened\ increased by .04 percentage points.
(type an integer or a decimal.)

Explanation:

Absolute Change (Percentage Points)

Step1: Identify initial and final percentages

Initial percentage: \( 33\% \), Final percentage: \( 37\% \)

Step2: Calculate absolute change

Absolute change (percentage points) = Final - Initial = \( 37 - 33 = 4 \)

Step1: Identify initial value and absolute change

Initial value (\( P_{initial} \)): \( 33\% \), Absolute change (\( \Delta P \)): \( 4\% \) (from absolute change calculation)

Step2: Calculate relative change

Relative change \( = \frac{\Delta P}{P_{initial}} \times 100\% = \frac{4}{33} \times 100\% \approx 12.12\% \) (rounded to two decimal places)

Answer:

The percentage of renters who were "rent burdened" increased by 4 percentage points.

Relative Change (Percentage)