When President George W. Bush proposed partially privatizing Social Security in
ID: 3041323 • Letter: W
Question
When President George W. Bush proposed partially privatizing Social Security in 2004, some commentators said that only "2 percent" of the average American's Social Security taxes would be funneled into private accounts. The writers meant that the average person's income taxes directed toward Social Security would drop from 6.2% to 4.2%.
A) Calculate the percentage change.
B) The US government deposited $948 billion in taxes into the social security fund in 2013. If the Bush proposal in 2004 had become law, how much would the government have deposited into the fund in 2013?
C) In this case, is percentage change or change in percentage points the more helpful piece of information?
D) Eating one serving of processed meats (bacon, sausage, hot dogs, etc) per day increases your risk of type-2 diabetes by 19%. For people who don’t eat processed meats, the incidence rate of type-2 diabetes is about 8 in 100. What is the incidence rate for people who do eat processed meats? On average, how many more processed meat-eaters (per 100) develop type-2 diabetes compared to people who don’t eat processed meat? What effect, if any, does this information have on your attitude toward eating processed meats?
Explanation / Answer
2000 population= 274,562,700
2014 population= 318,892,100
Change= 318,892,100 – 275,562,700 – 275,562,700
Increase= 43,329,400
PI= (43,329,400/245,562,700) X 100
PI= 15.7240%
It is better to report actual increase because the percentage makes data look less significant.
2000 population= 19,533,560
2014 population= 25,758,100
Change= 25,758,100 – 19,533,560
Increase= 6,224,550
(6,224,550/19,533,560)=0.318659271 percentage Decrease
PI= .3186592715 X 100
PI= 31.8660%
Better to report percent because number value is small compared to U.S. number value.
2000 tuition =2,184
2014 Tuition= 8,296.42
Change= 8,296.42 – 2,184
Increase= 6,112.42
(6,112.42/2,184)= 2.798727106 percentage Increase
PI = 2.798727106 X 100
PI =2798.872%
Out of State Tuition for 2000 = 11,980
Out of State tuition for 2014= 23,551.42
Change = 23,551.42 – 11,980
Increase= 11,531.42
(11,531.42/11,980)= 0.962555926 Percentage Increase
PI = 0.962555926 X 100
PI = 96.2560
Family population=
Gasoline Price for December 2004 = 1.74
Gasoline Price for December 2014 = 2.40
Change = 2.40 – 1.74
Increase = 0.66
(0.66/1.74)= 0.79310344
PI = 0.79.100344 x 100
PI = 37.9310
X 100
=
=-0.25 X 100
= -25% Change
= 25% Decrease
X 100
=
= -0.0864198 X 100
= -8.64198% change
= 8.64198% decrease
X 100
=
= -0.0864198 X 100
= -0.879096% change
= 87.9096% Increase
= 32.2581% change
100- 32.2581 = 67.7419%
.677419 X 918,000,000=
$642,193,212,000
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