What was the average absolute percentage change in the value of the USD vs the CHF from 2020 to 2022 and 2024 to 2025?
Understand the Problem
The question is asking for the calculation of the average absolute percentage change in the value of the USD compared to the CHF for two separate time periods: from 2020 to 2022 and from 2024 to 2025. This involves analyzing the data presented in the chart and performing some percentage calculations.
Answer
The average absolute percentage change is approximately $5\%$.
Answer for screen readers
The average absolute percentage change in the value of the USD vs the CHF from 2020 to 2022 and from 2024 to 2025 is approximately $5%$.
Steps to Solve
- Identify the values for USD in the given years
From the chart:
- USD in 2020: 0.94
- USD in 2022: 0.96
- USD in 2024: 1.04
- USD in 2025: 1.12
- Calculate the percentage change from 2020 to 2022
Use the formula for percentage change: $$ \text{Percentage Change} = \left(\frac{\text{New Value} - \text{Old Value}}{\text{Old Value}}\right) \times 100 $$
Substituting the values: $$ \text{Percentage Change}_{2020 \text{ to } 2022} = \left(\frac{0.96 - 0.94}{0.94}\right) \times 100 \approx 2.13% $$
- Calculate the percentage change from 2024 to 2025
Using the same formula: $$ \text{Percentage Change}_{2024 \text{ to } 2025} = \left(\frac{1.12 - 1.04}{1.04}\right) \times 100 \approx 7.69% $$
- Calculate the average absolute percentage change
To find the average: $$ \text{Average Absolute Percentage Change} = \frac{\left|2.13%\right| + \left|7.69%\right|}{2} $$
Performing the calculation: $$ \text{Average Absolute Percentage Change} = \frac{2.13 + 7.69}{2} \approx 4.91% $$
- Consider possible answer options
Round the average absolute percentage change to match the provided options.
The average absolute percentage change in the value of the USD vs the CHF from 2020 to 2022 and from 2024 to 2025 is approximately $5%$.
More Information
The small percentage change from 2020 to 2022 may indicate relative stability in that period, while the larger increase from 2024 to 2025 may suggest economic changes or market fluctuations.
Tips
- Failing to ensure all values are properly noted from the chart.
- Forgetting to take the absolute value before averaging the percentage changes.
- Miscalculating the percentage change itself due to incorrect subtraction or division.
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