The utility industry had 428.5 thousand jobs in 2010 and is expected to decline at an average rate of 3 thousand jobs per year from 2010 to 2020. Assuming this holds true, what will be the utility’s percent change from 2010 to 2020?

Utility's percent Change from 2010 to 2020 = 7%

Step-by-step explanation:

Jobs available at the utility industry in 2010= 428.5 thousand

Average rate of decline = 3 thousand

Years between 2010 and 2020

Utility's percent Change from 2010 to 2020 = Total change in jobs / jobs in 2010 × 100

Total change in jobs:

There are 10 years between 2010 and 2020

Jobs decline at an average of 3 thousand per year

Total change in jobs= 10 years × 3 thousand

= 30 thousand

Utility's percent Change from 2010 to 2020 = Total change in jobs / jobs in 2010 × 100

= 30 thousand / 428.5 thousand × 100

= 0.07 × 100

= 7%

Utility's percent Change from 2010 to 2020 = 7%

Short 301

Long The definition of a "Geometric Sequence" is available, for instance, at http://www.mathsisfun.com/algebra/sequences-sums-geometric.html : "In a Geometric Sequence each term is found by multiplying the previous term by a constant."

In this case, you are given the first term (43), and the third term (2107) and you have one missing term, specifically the second term. If you divide the third term (2107) by the first term (43) then you get 49. And you know that 49 = 7 * 7. So, you reach the conclusion that you can multiply the first term (43) by 7 to get to the missing term and that you can multiply that missing term again by 7 to get to the third term (2107). That satisfies our "Geometric Sequence" requirement that each term is multiplied by a constant (the constant is 7, in this case).

So, if you multiply 43 by 7, you get 301 (the missing second term). And if you multiplied 301 again by 7 then you would get to the third term that was given in the question (2107).