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Updated on: 23 Oct 2023, 11:05
Originally posted by Sajjad1994 on 05 Apr 2021, 07:15.
Last edited by BottomJee on 23 Oct 2023, 11:05, edited 2 times in total.
Last edited by BottomJee on 23 Oct 2023, 11:05, edited 2 times in total.
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U.S. manufacturing has generally shown positive growth from year to year, although negative economic conditions can interrupt or reverse that pattern. The relative health of the economy has not, however, appeared to affect the steady increase in e-commerce since the year 2000. For example, the year 2009 saw a sharp decrease in the total dollar value of shipments from U.S. manufacturers, but growth of ecommerce as a proportion of these shipments' value continued at a level close to that of the several previous years.
This trend toward e-commerce is visible across industries. For instance, from 2004 to 2008, U.S. food manufacturers saw an increase of 27.9% in the total dollar value of their shipments. But the growth in ecommerce shipments within the food industry was far faster over the same period, with the total value of shipments handled via e-commerce more than tripling (from 12.5% to 38%) as a proportion of the total value of shipments. During the same period, the value of the leather manufacturing industry's shipments decreased by 6.9%, but the proportion of its sales handled via e-commerce rose sharply, increasing from 10.5% to 21% of the total value of shipments.
This trend toward e-commerce is visible across industries. For instance, from 2004 to 2008, U.S. food manufacturers saw an increase of 27.9% in the total dollar value of their shipments. But the growth in ecommerce shipments within the food industry was far faster over the same period, with the total value of shipments handled via e-commerce more than tripling (from 12.5% to 38%) as a proportion of the total value of shipments. During the same period, the value of the leather manufacturing industry's shipments decreased by 6.9%, but the proportion of its sales handled via e-commerce rose sharply, increasing from 10.5% to 21% of the total value of shipments.
The total value of the leather industry's 2008 shipments as a percentage of the total value of the leather industry's 2004 shipments.: No
The total value of food manufacturers' 2008 shipments as a percentage of the total value of food manufacturers' 2004 shipments.: Yes
The proportion of the leather industry's business handled via e-commerce in 2008 as a percentage of the proportion of that industry's business handled via e-commerce in 2004.: Yes
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
65%
(hard)
Question Stats:
51% (03:33) correct
49%
(03:33)
wrong
based on 1286
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1. For each of the following , select Yes if the percentage specified for a given industry is greater than the corresponding percentage for U.S. manufacturing as a whole. Otherwise, select No.
| Yes | No | |
| The total value of the leather industry's 2008 shipments as a percentage of the total value of the leather industry's 2004 shipments. | ||
| The total value of food manufacturers' 2008 shipments as a percentage of the total value of food manufacturers' 2004 shipments. | ||
| The proportion of the leather industry's business handled via e-commerce in 2008 as a percentage of the proportion of that industry's business handled via e-commerce in 2004. |
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Official Answer
The total value of the leather industry's 2008 shipments as a percentage of the total value of the leather industry's 2004 shipments.: No
The total value of food manufacturers' 2008 shipments as a percentage of the total value of food manufacturers' 2004 shipments.: Yes
The proportion of the leather industry's business handled via e-commerce in 2008 as a percentage of the proportion of that industry's business handled via e-commerce in 2004.: Yes
2005–2006: No
2006–2007: No
2007–2008: Yes
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
95%
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Question Stats:
38% (02:46) correct
62%
(02:34)
wrong
based on 1277
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Time
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2. For each of the following periods, select Yes if the dollar value of e-commerce shipments increased by a larger dollar amount than did the total value of shipments from U.S. manufacturers for the same period. Otherwise, select No.
| Yes | No | |
| 2005–2006 | ||
| 2006–2007 | ||
| 2007–2008 |
ShowHide Answer
Official Answer
2005–2006: No
2006–2007: No
2007–2008: Yes
86%
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
95%
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Question Stats:
37% (01:48) correct
63%
(01:37)
wrong
based on 1134
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History
Date
Time
Result
Not Attempted Yet
3. From 2004 to 2008, by approximately what percentage did the dollar value of the e-commerce shipments by the leather industry increase?
| 36% | |
| 86% | |
| 90% | |
| 100% | |
| 105% |
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06 Jun 2024, 08:21
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I'll try to write my reasoning, correct me if I'm missing something
1. For each of the following , select Yes if the percentage specified for a given industry is greater than the corresponding percentage for U.S. manufacturing as a whole. Otherwise, select No.
a. The total value of the leather industry's 2008 shipments as a percentage of the total value of the leather industry's 2004 shipments. NO
Comparison between the "E-commerce" and the "US Manufacturers" tabs. Leverage the (new-old)/old * 100 --> to see the delta %, making the second tab comparable with the first one.
2005–2006 NO
"E-commerce": seems aprox 28% for 2005 and 31% for 2006 so delta is 3%
"US Manufacturers": (5,015,553-4.742,076)/4.742,076*100 = 5,7%
2006–2007 NO
"E-commerce": seems aprox 31% for 2006 and 35% for 2007 so delta is 4%
"US Manufacturers": (5,338,307-5,015,553)/5,015,553*100= 6,4%
2007–2008 YES
"E-commerce": seems aprox 35% for 2007 and 40% for 2008 so delta is 5%.
"US Manufacturers": (5,468,093-5,338,307)/5,338,307*100= 2,4%
3. From 2004 to 2008, by approximately what percentage did the dollar value of the e-commerce shipments by the leather industry increase?
1. For each of the following , select Yes if the percentage specified for a given industry is greater than the corresponding percentage for U.S. manufacturing as a whole. Otherwise, select No.
a. The total value of the leather industry's 2008 shipments as a percentage of the total value of the leather industry's 2004 shipments. NO
- U.S. manufacturing as a whole --> will remain the same number in all 3 comparisons and can be seen in the "US Manufacturers tab": ratio of 5,468,093 (2008) / 4,308,971 (2004) * 100 = 126%
- look at the end of the second block of the text "Economic Trends": During the same period, the value of the leather manufacturing industry's shipments decreased by 6.9%. --> Assume that in 2004 = 100 and 2008= 100(1-6.9%)= 93.1. Is 93.1/100 * 100 > 126%? NO
- U.S. manufacturing as a whole = 126%
- look at the beginning of the second block of the text "Economic Trends": from 2004 to 2008, U.S. food manufacturers saw an increase of 27.9% in the total dollar value of their shipments. --> Assume that in 2004 = 100 and 2008= 100(1+27.9%)= 127.9. Is 127.9/100 * 100 > 126%? YES
- U.S. manufacturing as a whole = 126%
- look at the beginning of the second block of the text "Economic Trends": But the growth in ecommerce shipments within the food industry was far faster over the same period, with the total value of shipments handled via e-commerce more than tripling (from 12.5% to 38%) as a proportion of the total value of shipments.
- look at the end of the second block of the text "Economic Trends": but the proportion of its sales handled via e-commerce rose sharply, increasing from 10.5% to 21% of the total value of shipments.
- Let's combine the info:
- Leather 2008: 93,1
- Leather 2008 e-commerce: 93.1*21%=19.551
- Leather 2004: 100
- Leather 2004 e-commerce: 100*10.5%=10.5
- Is 19.551/10.5*100 > 126%? YES
Comparison between the "E-commerce" and the "US Manufacturers" tabs. Leverage the (new-old)/old * 100 --> to see the delta %, making the second tab comparable with the first one.
2005–2006 NO
"E-commerce": seems aprox 28% for 2005 and 31% for 2006 so delta is 3%
"US Manufacturers": (5,015,553-4.742,076)/4.742,076*100 = 5,7%
2006–2007 NO
"E-commerce": seems aprox 31% for 2006 and 35% for 2007 so delta is 4%
"US Manufacturers": (5,338,307-5,015,553)/5,015,553*100= 6,4%
2007–2008 YES
"E-commerce": seems aprox 35% for 2007 and 40% for 2008 so delta is 5%.
"US Manufacturers": (5,468,093-5,338,307)/5,338,307*100= 2,4%
3. From 2004 to 2008, by approximately what percentage did the dollar value of the e-commerce shipments by the leather industry increase?
- We can re-use the info in point 1.
- Leather 2004: 100
- Leather 2004 e-commerce: 100*10.5%=10.5
- Leather 2008: 93,1
- Leather 2008 e-commerce: 93.1*21%=19.551
- Still the (new-old)/old * 100 --> (19.551-10.5)/10.5 * 100 = 86%
25 Apr 2021, 02:34
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Official Explanation
3. From 2004 to 2008, by approximately what percentage did the dollar value of the e-commerce shipments by the leather industry increase?
Explanation
You're asked to approximate the percentage increase from 2004 to 2008 of the value of e-commerce shipments for the leather industry. The first tab has all the data on the leather industry. Research to find the values of the total shipments for the leather industry in both years and the portion of each year's shipments accounted for by e-commerce. Then, calculate the percentage growth in e-commerce.
Tab 1 reveals that no actual dollar value of shipments is given, only a percentage change—a decrease of 6.9%. Pick numbers to handle this situation; if the dollar value of shipments in 2004 were $100, then the value in 2008 would have been $93.10.
Now, calculate the amount of e-commerce. Remember to use the e-commerce percentages given specifically for the leather industry in the first tab, not the industry-wide percentages in the third tab. In 2004, 10.5% of shipping was via e-commerce, and 10.5% of $100 is $10.50. In 2008, 21% was shipped via e-commerce: $93.10 × 0.21 = $19.551. You're looking for the percentage increase, so take the increase ($19.551 – $10.50 = $9.051) and divide by the original amount ($10.50) to find the percentage change.
\($9.051 ÷ $10.50 = 0.862 = 86.2\)%.
(B) is correct.
3. From 2004 to 2008, by approximately what percentage did the dollar value of the e-commerce shipments by the leather industry increase?
Explanation
You're asked to approximate the percentage increase from 2004 to 2008 of the value of e-commerce shipments for the leather industry. The first tab has all the data on the leather industry. Research to find the values of the total shipments for the leather industry in both years and the portion of each year's shipments accounted for by e-commerce. Then, calculate the percentage growth in e-commerce.
Tab 1 reveals that no actual dollar value of shipments is given, only a percentage change—a decrease of 6.9%. Pick numbers to handle this situation; if the dollar value of shipments in 2004 were $100, then the value in 2008 would have been $93.10.
Now, calculate the amount of e-commerce. Remember to use the e-commerce percentages given specifically for the leather industry in the first tab, not the industry-wide percentages in the third tab. In 2004, 10.5% of shipping was via e-commerce, and 10.5% of $100 is $10.50. In 2008, 21% was shipped via e-commerce: $93.10 × 0.21 = $19.551. You're looking for the percentage increase, so take the increase ($19.551 – $10.50 = $9.051) and divide by the original amount ($10.50) to find the percentage change.
\($9.051 ÷ $10.50 = 0.862 = 86.2\)%.
(B) is correct.
