Question

1. In the chapter, the original labor rate for inspectors was given as $35 per hour. However, because of contract renegotiation, this value is now $40. What algebraic expression could you use to determine the percent increase in labor costs? Provide the formula and resulting value.

2. The formula =ROUND(810.52,-1) results in what precise value?
3. Write a formula to round down 83.34% to the nearest percent.
4. What is the symbol for the not equal the o relational operator in Excel?

Answer 1

1.

Algebraic expression used to determine the percent increase in labor cost is as follows:

Algebraic expression will be =(40-35)/35

Resulting value = 14.28%

2.

Precise value for the formula =ROUND(810.52,-1) is as follows:

Precise value = 810

3.

Formula to round down 83.34% to the nearest percent is as follows:

Formula is =ROUNDUP(83.34,0)

4.

Symbol for the not equal the o relational operator in Excel is as follows:

Symbol is <>