percentage change year over year

[mrsapp1]

Question:

In Oct. 2004, the city office space vacancy rate was 13.9%.
In Oct. 2005, the city office space vacancy rate was 14.2%.
What is the percentage change year over year?
Is it 2.2% (the result of 0.3% divided by 13.9%)?
Or is it even calculable with only the percentages given? Would you need the space available each year?

What about this case?

In 2004, the tax rate was 9%.
In 2005, the tax rate was 12%.
What is the percentage change? ... 33%, right?

Are these problems similarly figured?

Thanks.

 

[stapel]

To find the percent change over an original amount (even if that amount is itself a percentage), subtract to find the absolute change (in this case, "points"), and divide by the original amount.

In other words, yes, rounded to one decimal place, the rates changed by 0.3 points, or 2.2%.

(Since "vacancy rate", as far as I know, refers only to the percentage of units that are vacant, the actual footage is not needed.)

You have the correct value for the tax rate, also.

Good job! :wink:

Eliz.