Unit 2: Instructor Graded Assignment
In this and future Instructor Graded Assignments you will be asked to use the answers you found in the Unit 1 Assignment. Note: For these questions you need to cite a reliable source for information, which means you cannot use sites like Wikipedia, Ask.com®, and Yahoo® answers. If you do use those sites the instructor may award 0 points for your response. The Assignment problems must have the work shown at all times. The steps for solving the problems must be explained. Failure to do so could result in your submission being given a 0. If you have any questions about how much work to show, please contact your instructor. Assignments must be submitted as a Microsoft Word® document and uploaded to the Dropbox for Unit 2. Type all answers directly in this Assignment below the question it applies to. All Assignments are due by Tuesday at 11:59 PM ET of the assigned Unit. Finding the National Average Price for Gas
These first few questions will require you to use the internet to search for the national average price for gas. Remember to use a scholarly site for information. List the website(s) you visited here:
http://www.eia.gov/tools/faqs/faq.cfm?id=287&t=10(2 points): What was the average price of a gallon of gas 1 year from when your business math class started? I am confused with this question; my class began in August 2014 so 1 year from then will be 2015 so I have to go to the projected gasoline prices which for a gallon of gasoline are projected to be $ 3.38 as compared to $ 3.48 in 2014 down 10 cents a gallon. (5 points): You have $50 on hand and need to buy gas. How many gallons of gas can you buy (using the value you reported in Question 1.) @ $ 3.38 per gal. I would be able to purchase 14 gallons for $ 47.32 leaving $ 2.68 from the original $ 50.00. $ 3.38 x 14 = $ 47.32. 3. (5 points): If gas prices were to drop 10% from the current price, how much would a gallon of gas cost now? Current...
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