Answer:
The amount of jobs from fitting industry shall decline in 5.5 percent from 2015 to 2025.
Step-by-step explanation:
Due to the assumption of a yearly average rate, a linear function model shall be used. The expected amount of jobs ([tex]n[/tex]) after a certain amount of years (t) is given by the following formula:
[tex]n = n_{o} + \frac{\Delta n}{\Delta t}\cdot t[/tex]
Where:
[tex]n_{o}[/tex] - Initial amount of jobs in pipe fitting industry, measured in thousands.
[tex]\frac{\Delta n}{\Delta t}[/tex] - Average yearly rate, measured in thousands per year. (A decline is indicated by a negative sign)
If [tex]n_{o} = 546.5[/tex], [tex]t = 2025-2015 = 10\,years[/tex] and [tex]\frac{\Delta n}{\Delta t} = -3\,\frac{1}{years}[/tex], then:
[tex]n = 546.5+\left(-3\,\frac{1}{year}\right)\cdot (10\,years)[/tex]
[tex]n = 516.5[/tex]
The percent change in jobs from pipe fitting industry is calculated as follows:
[tex]\%n = \left(1-\frac{n}{n_{o}}\right)\times 100\,\%[/tex]
[tex]\% n = \left(1-\frac{516.5}{546.5}\right)\times 100\,\%[/tex]
[tex]\%n = 5.5\,\%[/tex]
The amount of jobs from fitting industry shall decline in 5.5 percent from 2015 to 2025.
