Two Measurements Are Given $- 492$ People Per Square Mile Relative Difference

question 92

Multiple Choice

Two measurements are given. Find the absolute difference and then find the relative difference as a percentage. Assumethat the first quantity is the compared value and the second quantity is the reference value. Round answers to the nearesttenth if necessary.
-The population density in country A is 113 people per square mile while in country B, it is 605 people per square mile.

• A) Absolute difference: \(- 492\) people per square mile Relative difference: \(- 8.1 \%\)
• B) Absolute difference: 492 people per square mile Relative difference: \(\mathbf { 4 3 5 . 4 \% }\)
• C) Absolute difference: \(- 492\) people per square mile Relative difference: \(- 435.4 \%\)
• D) Absolute difference: \(- 492\) people per square mile Relative difference: \(- 81.3 \%\)

Apply probability concepts to real-world economic scenarios.

Understand the implications of risk aversion on investment decision-making.

Learn methods for comparing the riskiness of different investment opportunities.

Understand the concept of risk premium and its importance in economic decisions.

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