Chapter 3: Numbers in the Real World

A collection of vocabulary flashcards derived from the lecture notes on using and understanding percentages in various contexts.

Percentage

A fraction expressed as a part of 100, commonly used to describe proportions.

Absolute Change

The actual increase or decrease from a reference value to a new value.

Relative Change

A fraction that describes the size of the absolute change in comparison to the reference value.

Absolute Difference

The actual difference between the compared value and the reference value.

Relative Difference

The size of the absolute difference as a fraction of the reference value.

Reference Value

The initial or starting value used for comparison when calculating changes.

Income Comparison

An analysis that compares the average income levels between different entities, such as states.

Sale Price

The price at which an item is sold after the application of a discount.

Tax Calculation

The process of determining the final cost of an item including any applicable sales tax.

Shifting Reference Values

Altering the baseline value used for comparison which can distort the interpretation of data.

Averaging Percentages

A potentially misleading method of calculating overall percentages without proper consideration of underlying values.

Batting Average

A statistic in baseball that shows the ratio of hits to at-bats, often expressed as a percentage.