logo for solving-math-problems.com






+1 Solving-Math-Problems

Page red arrow   Site red arrow

Home Page

Site Map

Search This Site

Free Math Help

Math Symbols (all)

Operations Symbols

Relation Symbols

Grouping Symbols

Set Notation Symbols

Miscellaneous Symbols

Calculators

Math & Numbers

Properties of Numbers

Exponents, Radicals, & Roots

Privacy Policy

+1 Solving-Math-Problems

Page red arrow   Site red arrow
leftimage for solving-math-problems.com

Comparing Numbers
from
Different Time Periods

-->



SBI! Case Studies
Comparing Numbers from Different Time Periods -
Comparing "Numbers" without using a Number Line:

Direct Comparison, without using a number line, has many practical advantages because it does not require a physical drawing.

Although a number line provides a visual model which is easy to understand, it is not feasible to use it in most situations. The following limitations make a number line cumbersome and time consuming to use:
  • There is not enough space to physically plot more than a few numbers on the same line graph (number line).


  • Plotting extremely small numbers, or extremely large numbers, or numbers with completely different orders of magnitude, or numbers which are almost equal may each require dramatically different labeling of scale marks. In addition, each situation may require completely different intervals marked on the number line.
Direct Comparison eliminates the problems listed above. Direct comparison does not require a physical drawing.

Real Numbers are sequential. By comparing place values, any two numbers can be compared directly - once the numbers are written in the same standard notation.
Different Time Periods - Comparing numbers from different time periods:
Return to Top of Page Return To "Top of Page" click here

To accurately compare numbers from different time periods, you must recompute them as if they occurred in the same time period.

This may be easier said than done. However, it is possible in many cases.

Here are two common examples: (1) The interest rates charged (or paid) by banks can be computed on an annual basis, no matter how the banks calculate compounding. (2)The purchasing power of money can be estimated in different time periods using the consumer price index.

Example: Which has the greatest purchasing power: $100 in the year 1965, or $500 in the year 2008?

In the United States, $1 in 1965 has the same purchasing power as $6.74 in 2008 (Bureau of Labor Statistics: http://www.bls.gov/data/inflation_calculator.htm).

To calculate what the equivalent purchasing power of $100 in 1965 would be in 2008:

($100)(6.74) = $674

Both numbers can now be compared in terms of 2008 purchasing power:

$100 in 1965 = $674 in 2008

$500 in 2008 = $500 in 2008

The above comparison shows that the purchasing power of $500 in 2008 is less than the purchasing power of $100 in 1965.

$500 in 2008 < $100 in 1965

The above comparison shows that the purchasing power of $100 in 1965 is greater than the purchasing power of $500 in 2008.

$100 in 1965 > $500 in 2008





Return from Comparing "Numbers" (from Different Time Periods), to Math Numbers (a general listing of all number categories)

Return from Comparing "Numbers" (from Different Time Periods), to Solving Math Problems (home page)




Copyright © 2008-2013. All rights reserved. Solving-Math-Problems.com