stewartmath.com/precalc_7e_dp/precalc_7e_dp9.html I. Changes in Tuition Fees 1. The table gives the average annual cost of tuition at public 4-year colleges in the United States. The first section in the table gives the tuition in actual current dollars; the second section adjusts these numbers for inflation to constant 2006 dollars. (a) Fill in the "Rate of change" columns by finding the change in tuition and fees in dollars per year, over the preceding year. (b) Fill in the "Annual percentage change" columns by expressing the rate of change as a percentage of the preceding year's tuition (to the nearest percent). Current dollars Annual Academic Rate of year Tuition change change 99 - 00 $3362 00 - 01 $3508 $146 4.3% 01 - 02 $3766 02 - 03 $4098 03 - 04 $4645 04 - 05 $5126 05 - 06 $5492 06 - 07 $5836 Source: The College Board, New York, NY. Inflation-adjusted dollars Activate WindoInflation-adjusted dollars Annual Rate of Tuition change change $4102 $4139 $37 0.9% $4326 $4624 $5131 $5516 $5702 $5836 Source: The College Board, New York, NY. 2. From the table we see that the cost of tuition has changed from year to year over this ten-year period, in both actual and inflation-adjusted dollars. (a) Did tuition increase every year over this period? (b) Did the rate of change increase every year over this period? If not, describe how the rate of change of tuition changed over this period. 3. Consider the actual current dollar data shown in the table. (a) Over what period was the rate of change of tuition increasing? (h) Over what period was the rate of change of tuition decreasing? Activate Win Go to Settings t$4102 $4139 $37 0.9% $4326 $4624 $5131 $5516 $5702 $5836 Source: The College Board, New York, NY. 2. From the table we see that the cost of tuition has changed from year to year over this ten-year period, in both actual and inflation-adjusted dollars. (a) Did tuition increase every year over this period? (b) Did the rate of change increase every year over this period? If not, describe how the rate of change of tuition changed over this period. 3. Consider the actual current dollar data shown in the table. (a) Over what period was the rate of change of tuition increasing? (b) Over what period was the rate of change of tuition decreasing? 4. Repeat Question 3 for the inflation-adjusted data. 5. (a) Which do you think is a better way of measuring the change in tuition, actual dollars or inflation-adjusted dollars? (b) Which do you think is a better way of expressing the rate of change of tuition, dollars per year or the percentage change per year? Activate Windo Go to Settings to act