Answers26-27 RPA Financial Math - MA2007 ICTrends in the Marketplace

Trends in the Marketplace Answers

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1
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The average hourly earnings for a construction worker is projected to be $24.50 in 2012. Jason wants to join the construction work force after he graduates in 2012. His friend tells him that average hourly earnings for construction workers will rise by 2% from 2009 to 2012. Based on the data below, assuming that the projected hourly earnings are correct, is Jason’s friend’s statement accurate? Construction Industry - Average Hourly Earnings, 2000-2009

Question illustration
A
His friend’s statement is accurate. The average hourly earnings will increase by 2%.
B
His friend’s statement is not accurate. The percent increase will be more than 2%
C
His friend’s statement is not accurate. The percent increase will be less than 2%
D
His friend’s statement is not accurate. The average hourly earnings will decrease.
2
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In considering career options, Ella would like to enter an industry with at least 50% growth from 2000 to 2010. Based on the above graph, which of the following industries is not in that category?

Question illustration
A
Health services
B
Computer and data processing
C
Residential care
D
Management and public relations
3

Based on the above table, what is the fastest growing listed occupation for those without a college degree?

Question illustration
A
Gaming and sports book writers and runners
B
Dental assistants
C
Marriage and family therapists
D
Manicurists and pedicurists
4

Based on the above chart, which industry’s average annual rate of change is projected to decrease the most in the 2006-2016 period as compared to its average annual rate of change during 1996-2006?

Question illustration
A
Utilities
B
Educational services
C
Federal government
D
State and local government
5

The total employment for police officers in 2006 was 648,000. If there are 719,000 police officers in 2016, what will the percent increase have been?

A
5.12%
B
10.96%
C
11.09%
D
22.07%
6

Based on the above graph, in 2016, which occupation is projected to have about 2,500,000 more workers than there will be computer systems analysts?

Question illustration
A
Registered nurses
B
Postsecondary teachers
C
Waiters and waitresses
D
None of these
7

Construction Industry-All Employees (Millions), 2000-2009 Construction Industry - Average Hourly Earnings (Dollars), 2000-2009 Based on trends displayed in the graphs above, which answer choice represents a likely situation for 2010?

Question illustration
A
There will be more than 6.5 million construction employees in 2010, and those employees will have average hourly earnings of $24.00.
B
There will be over 6 million construction employees in 2010, and the average hourly earnings will be less than twenty dollars.
C
There will be roughly 6 million employees in 2010, and those employees will have average hourly earnings of $22.75.
D
There will be over 7.5 million employees in 2010, and those employees will earn, on average, $23.00 per hour.
8

Approximately how many more job openings are expected for security guards than pharmacy technicians?

Question illustration
A
2,000
B
11,100
C
21,000
D
32,000
9

Based on the above table, which services-providing industry gained the most jobs between 1996 and 2006?

Question illustration
A
Educational services
B
Professional and business services
C
Retail trade
D
State and local government
10

Say a certain manufacturing industry has 63.1 thousand jobs in 2008, but is expected to decline at an average annual rate of 1.7 thousand jobs per year from 2008 to 2018. Assuming this holds true, what will be this industry’s percent change from 2008 to 2018?

A
70%
B
-27%
C
-17%
D
-75%
11

A professor expects the education and health service industries to increase total employees by 14.8% from 2009 to 2016. Based on the employment graph below, approximately how many new jobs will the education and health service industries gain between 1/2009 and 1/2016? Education and Health Services - All Employees, 2000-2009

Question illustration
A
21,926,800
B
2,826,800
C
16,273,200
D
1,790,600
12

The projected number of employed writers and authors in 2016 is 153,000. 12.4% of those will have some college experience but no degree, and 84.1% will have a bachelor’s degree or higher. If this holds true, how many more writers and authors with bachelor’s degree will there be than those with only some college experience and no degree?

A
147,645
B
109,701
C
134,028
D
128,673
13

The total employment for police officers in 2006 was 648,000. If there are 719,000 police officers in 2016, what will the percent increase have been?

A
5.12%
B
10.96%
C
11.09%
D
22.07%
14

Why is it useful to identify or analyze occupational and industrial trends when considering your career path?

A
Jobs are all pretty much the same, so looking at trends will give you a precise picture of what the future should look like.
B
Watching the trends within your chosen industry can tell you when you should expect to be promoted, so you can base your long-term goals around statistical trends.
C
Occupational trends can give you an idea of whether a certain industry is improving or declining, and might help you identify how competitive your specific job market will be.
D
Analyzing trends is not useful since statistics tend to be incorrect or misleading.
15

Based on the above table, which occupation listed is projected to have the greatest total number of jobs in 2016?

Question illustration
A
Network systems and data communications analysts
B
Personal and home care aides
C
Home health aides
D
Personal finance advisors
16

The average hourly earnings for a construction worker is projected to be $24.50 in 2012. Jason wants to join the construction work force after he graduates in 2012. His friend tells him that average hourly earnings for construction workers will rise by 2% from 2009 to 2012. Based on the data below, assuming that the projected hourly earnings are correct, is Jason’s friend’s statement accurate? Construction Industry - Average Hourly Earnings, 2000-2009

Question illustration
A
His friend’s statement is accurate. The average hourly earnings will increase by 2%.
B
His friend’s statement is not accurate. The percent increase will be more than 2%
C
His friend’s statement is not accurate. The percent increase will be less than 2%
D
His friend’s statement is not accurate. The average hourly earnings will decrease.
17

The projected number of employed writers and authors in 2016 is 153,000. 12.4% of those will have some college experience but no degree, and 84.1% will have a bachelor’s degree or higher. If this holds true, how many more writers and authors with bachelor’s degree will there be than those with only some college experience and no degree?

A
147,645
B
109,701
C
134,028
D
128,673
18

Based on the above graph, which of the four occupations listed is expected to add the greatest number of jobs from 2006 to 2016?

Question illustration
A
Registered nurses
B
Postsecondary teachers
C
Waiters and waitresses
D
Computer systems analysts
19

Why is it useful to identify or analyze occupational and industrial trends when considering your career path?

A
Jobs are all pretty much the same, so looking at trends will give you a precise picture of what the future should look like.
B
Watching the trends within your chosen industry can tell you when you should expect to be promoted, so you can base your long-term goals around statistical trends.
C
Occupational trends can give you an idea of whether a certain industry is improving or declining, and might help you identify how competitive your specific job market will be.
D
Analyzing trends is not useful since statistics tend to be incorrect or misleading.

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