NSC Mathematical Literacy Using predictions in various situations: The average monthly retail price

Question

The average monthly retail price for orange juice per litre in Canadian dollars (CAD) for 2018 to 2021 is shown on the ANSWER SHEET. The actual data values for each month in 2020 are also indicated.

4.1.1 Calculate (in CAD) the difference between the price of orange juice in January 2019 and in February 2019.

4.1.2 Write down the month and year in which the price of orange juice was at its lowest.

4.1.3 State the month and years in which the price of orange juice was exactly the same.

4.1.4 Determine the median monthly price of orange juice for 2020.

4.1.5 Describe the trend of the price of orange juice from February 2018 to July 2018.

4.1.6 An analyst predicted that the price of orange juice would drop by 0,16 CAD from February 2021 to 2022.

Determine the year-on-year percentage increase from March 2020 to March 2021.

You may use the following formula:

Percentage Increase = $ \frac{New \, value - Old \, value}{Old \, value} \times 100 $

4.1.7 The analyst's prediction for the price of orange juice for the rest of the year 2021 is shown in TABLE 3 below.

TABLE 3: PREDICTED PRICE OF ORANGE JUICE FOR 2021

| Month   | Price  |
|---------|--------|
| Apr.   | 4.25   |
| May    | 4.28   |
| Jun.   | 4.30   |
| Jul.   | 4.35   |
| Aug.   | 4.35   |
| Sep.   | 4.27   |
| Oct.   | 4.28   |
| Nov.   | 4.26   |
| Dec.   | 4.24   |

Use the ANSWER SHEET to plot the line graph for March 2021 to December 2021.

The average monthly retail price for orange juice per litre in Canadian dollars (CAD) for 2018 to 2021 is shown on the ANSWER SHEET - NSC Mathematical Literacy - Question 4 - 2022 - Paper 1

Worked Solution & Example Answer:The average monthly retail price for orange juice per litre in Canadian dollars (CAD) for 2018 to 2021 is shown on the ANSWER SHEET - NSC Mathematical Literacy - Question 4 - 2022 - Paper 1

Calculate (in CAD) the difference between the price of orange juice in January 2019 and in February 2019.

Write down the month and year in which the price of orange juice was at its lowest.

State the month and years in which the price of orange juice was exactly the same.

Determine the median monthly price of orange juice for 2020.

Describe the trend of the price of orange juice from February 2018 to July 2018.

Determine the year-on-year percentage increase from March 2020 to March 2021.

The analyst's prediction for the price of orange juice for the rest of the year 2021.

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