Transcript Chapter 07 Section 7.2

Marketing Essentials
n Chapter 7 Basic Math Skills
Section 7.2 Interpreting Numbers
Chapter 7 n Basic Math Skills
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SECTION 7.2
Interpreting Numbers
What You'll Learn
 How to use a calculator to solve math
problems
 The procedure used to convert
percentages to decimals and decimals
to percentages
 The ways to read different types of
graphs used to present mathematical data
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SECTION 7.2
Interpreting Numbers
Why It's Important
Most jobs in marketing require the use of a
calculator. Many require using a computer to
generate graphic presentations. You will
improve your skill level on the calculator as
you study this section. You will also gain a
greater understanding of graphs and charts.
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SECTION 7.2
Interpreting Numbers
Key Terms
 percent
 bar graph
 line graph
 circle graph
 pie chart
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SECTION 7.2
Interpreting Numbers
Using a Calculator
Nearly everyone in marketing and business
uses calculators. Besides simply knowing
which buttons to press, you will be expected to
work with accuracy, know how to work with
fractions and amounts of money, and have an
understanding of how the calculator computes
with multiple operations.
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SECTION 7.2
Interpreting Numbers
Estimate, Then Operate
"Guess and Check" Estimate the answer,
then enter the problem in the calculator,
then check the calculator's answer against
your estimate.
This is important because you may make
errors when entering numbers or even press
the wrong operation key.
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SECTION 7.2
Interpreting Numbers
How to Make Entries
Disregard leading zeros to the left of the
decimal point and final zeros after the
decimal point.
When dealing with fractions, first convert the
fractions to decimal form.
Remember that most calculators perform
calculations in the order they are entered.
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SECTION 7.2
Interpreting Numbers
Percentages
Percent means parts per hundred. To write a whole
number or a decimal number as a percent, multiply it by
100, or move the decimal point two places to the right.
0.70 = 0.7
x
100
=
70%
or
0.70 =
70%
0.05 = 0.05 x
100
=
5%
or
0.05 =
5%
2.5
100
=
250%
or
2.50 =
250%
= 2.5
x
Move the decimal point
Two places to the right.
Write 0s as needed.
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SECTION 7.2
Interpreting Numbers
Converting Fractions to Percentages
To write a fraction as a percent, first convert the
fraction to decimal form, then multiply by 100. If
there is a whole number, add it to the converted
fraction before multiplying by 100.
3/8 =
3
÷
8
x
1
0
0
=
4 2/3 =
2
÷
5
+
4
x
1
0
37.5 = 37.5%
0
=
440 = 440%
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SECTION 7.2
Interpreting Numbers
Converting Percentages to Decimals
Change a percent to a decimal number by
dividing by 100, or by moving the decimal point
two places to the left.
Move the decimal point
two places to the left.
24.8% = 24.8 ÷
100
=
.248
or
24.8% = 0.248
0.5%
100
= 0.005
or
0.5 % = 0.005
=
0.5 ÷
Write 0s as needed.
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SECTION 7.2
Interpreting Numbers
Percent Problems
To find a percent of a number, multiply the
decimal equivalent of the percent by the
number. Use the following steps:
1. Estimate the answer.
2. Translate the problem into a math statement.
3. Do the calculations.
4. If necessary, round money amounts to the
nearest cent.
5. Check your answer.
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SECTION 7.2
Interpreting Numbers
Reading Charts and Graphs
Graphs are a way of presenting numbers in a
way that is easier to understand than a long
series of numbers. Usually a graph shows the
relationship between two kinds of data, or
statistical information. There are three basic
kinds of graphs:
 bar graphs
 line graphs
 circle graphs
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SECTION 7.2
Interpreting Numbers
Bar Graphs
A bar graph is a drawing made up of parallel
bars whose lengths are proportional to the
qualities being measured.
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SECTION 7.2
Interpreting Numbers
Compact Disc Sales By Age Group
According to this bar graph, how did the oldest customers
compare with the youngest in terms of purchases?
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SECTION 7.2
Interpreting Numbers
Line Graphs
A line graph uses a line that joins points
representing changes in a variable quantity,
usually over a specific period of time. Line
graphs are very useful for charting sales,
prices, profits, or output.
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SECTION 7.2
Interpreting Numbers
Compact Disc Sales
Line graphs chart change over time—in this case, the change in
sales figures over a period of 12 months. How would you summarize
the progression of sales over the course of the year?
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SECTION 7.2
Interpreting Numbers
Circle Graphs
A circle graph is a geometric representation
of the relative sizes of the parts of a whole. It
is better known as a pie chart.
Businesses often choose such a graph to
compare things like the costs of different
aspects of manufacturing or the ways income
from sales is used by a company.
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Interpreting Numbers
Retail Price Distribution—Compact Discs
This circle graph shows
a whole, the price of a
compact disc divided
into parts. Which two
price components
account for more than
half of the price of a CD?
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7.2
ASSESSMENT
Reviewing Key Terms and Concepts
1. Use a calculator to find the decimal
equivalent of 1/7.
2. What is the decimal equivalent of 60
percent?
3. What are three forms of graphic
representation?
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7.2
ASSESSMENT
Thinking Critically
A market researcher plans to present data
about purchases of colas by age group. She
can't decide whether to use a bar graph or to
list her groups on a chalkboard in order of
size. What should she do, and why?
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Marketing Essentials
End of Section 7.2
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