MA134 - #2 - Fractions and Averages

Contemporary Business
Mathematics With Canadian Applications

Eleventh Edition
S. A. Hummelbrunner • Kelly Halliday • K. Suzanne Coombs
PowerPoint Presentation by P. Au, S. Lyon
Chapter 1
Review of Arithmetic
Copyright © 2015 Pearson Canada Inc. 01-1

Homework Review
Exercise 1.1
7. 4(8-5)2 – 5(3+22)
= 4(3)2 – 5 (3+4)
= 4(3)2 – 5 (7)
= 4(9) – 5 (7)
= 36 – 35
=1

Homework Review
Exercise 1.1
9. 250(1+0.08)10
= 250(1.08)10
= 250(2.158925)
= 539.73

Homework Review
Exercise 1.1
11. 30 x 600 – 2500 – 12 x 600
= 18000 – 2500 - 7200
= 8300

Homework Review
Exercise 1.2
Section B: Converting Fractions to Decimals
3.
Use a calculator to make the conversion.
5 ÷ 3 = 1.666666
= 1.
Homework Review
Exercise 1.2
Section C: Converting Mixed Numbers to Decimals
5. 33
Carry the whole number over and use a calculator to convert the
fraction.
= 33 + (1 ÷ 3)
= 33 + 0.333333
= 33.

Homework Review
Exercise 1.2
Section D: Round to the penny
5. $57.69875
Round up the penny if the 3rd digit after the decimal is

5 or greater.
= $57.70
Learning Goals
By the end of this lesson, you should be able to:
❶ Reduce fractions to lowest terms.
❷ Solve mathematical expressions with complex fractions.
❸ Through problem solving, compute simple arithmetic and

weighted averages

Reducing Fractions to Lowest Terms
• Fractions should be reduced to lowest terms

whenever possible.
• To reduce fractions, divide both terms by factors


• by dividing by the largest factor you can think of for

both terms.

Tips:
• E
• Odd numbers are not divisible by even numbers.
• Numbers ending in ‘0’ or ‘5’ are divisible by 5.
• Otherwise, try dividing by prime numbers: 3, 7, 11, or

13.

• to lowest terms
Can divide both terms by 10
• =

Reducing Fractions to Lowest Terms (2)
• to lowest terms
• =

Reducing Fractions to Lowest Terms (3)
• to lowest terms
• =

• =

Complex Fractions
• Complex fractions are mathematical
expressions containing one or more fractions
in the numerator or denominator or both
Fraction Solution

Complex Fractions
• Complex fractions are mathematical
expressions containing one or more fractions
in the numerator or denominator or both
Fraction Solution

Complex Fractions
• Evaluate
• Be sure to follow the order of operations.
• =
• =
• = $1996.18
Complex Fractions (2)
• Evaluate 400(1 + 0.1 x )
• 400 (1 + 0.1 x .2739726)
• 400 (1 + .02739726)
• 400 (1.02739726)
• 410.959

Changing Percents to Decimals
• % means dividing by 100
• To change a percent to a decimal, drop the percent
symbol and move the decimal place two places to
the left
Percent Fraction Decimal
17% 17/100 0.17
0.8% 0.8/100 = 8/1,000 0.008
55% 55/100 0.55
215% 215/100 2.15
0.75% 0.75/100 = 75/10,000 0.0075
3/8 % 0.375/100 = 375/100,000 0.00375
Changing Decimals to Percents
• Move the decimal two places to the right and
add the % symbol
Decimal Percent
0.00525 0.525%
0.38 38%
2.55 255%
137.5%

Changing Fractions to Decimals to Percents
• First convert the fraction to a decimal, then

convert the decimal to percent
Fraction Decimal Percent

7/8 0.875 87.5%
1/3 0.333333···
4/7 0.5714 57.14%
1.25 125%

Changing Percents to Fractions
• What is 62% as a fraction?
• Percentages are numbers / 100

Conversion Practice
Fractions Decimals Percents
0.2
30%
65%
0.825
135%
3.7
Fractions Decimals Percents
0.1 10%
0.2 20%
0.25 25%
0.3 30%
0.4 40%
0.65 65%
0.825 82.5%
1.35 135%
3.7 370%

Arithmetic Average (Mean)
1. Add the values in a set of numbers to find the sum

of the data values
2. Divide the sum of the data values by the number of

values in the set

Class Averages
• Mean number of pets
• Mean number of hours slept

• Seven students in a class received the following grades on a

test:
82, 68, 88, 72, 78, 96, and 83
I. What is the average grade on this test?
II. If the average grades on test #2 and #3 are 72.4 and 68.9,
and each test has equal value, what is the course average?


Weighted Average
• In the case of arithmetic average, all data values are

equally important.
• With weighted average, data values have different

amounts of importance.
1. Multiply each data value with its weight factor.
2. Total all of these products and divide by the total of all

weight factors.

Average Price
The Tea Company wants to know the average price of the units that they
sold this quarter.
Type of Tea Selling Price per Unit Units Sold (Weight)

Earl Grey $25 1300
Peppermint $15 400
Green $13 700
Black $20 1200
Total 3600
An employee of The Tea Company decides to add up all the selling prices and divide by 4.
= = $18.75
Why does this not properly answer the question?

Average Price (Weighted Average)
Fill in all of the blanks in this chart.
Type of Tea Selling Price per Units Sold (Weight) Total Cost (Value x
Unit (Value) Weight)
Earl Grey $25 1300
Peppermint $15 400
Green $13 700
Black $20 1200
Total N/A
Step 1) Multiply each value by its weight.

Step 2) Add up all of these products then divide by the total weight.

Average Price (Weighted Average)
The Tea Company wants to know the average price of the units that they
sold this quarter.
Type of Tea Selling Price per Units Sold (Weight) Total Cost (Value x
Unit (Value) Weight)
Earl Grey $25 1300 32500
Peppermint $15 400 6000
Green $13 700 9100
Black $20 1200 24000
Total 3600 71600


Weighted Average Grade
A=4, B= 3, C=2, D=1
What is the average grade of this student per credit hour?
Courses Grade (Value) Credit Hours Product

(Weight)
Accounting B 3
Math C 4
English A 3
Elective A 2
Total


A=4, B= 3, C=2, D=1
Courses Grade (Value) Credit Hours Product

(Weight)
Accounting B (3) 3 9
Math C (2) 4 8
English A (4) 3 12
Elective A (4) 2 8
Total N/A 12 total 37
37
=3.08 𝐺𝑃𝐴
12

A=4, B= 3, C=2, D=1
Courses Grade Credit Hours

Accounting B 3
Math C 4
English A 3
Elective A 2
Another way to calculate weighted average is with this formula:

Weighted Average Final Grade
What final grade will this student receive?
Courses Grade Weight Product

Test #1 90% 0.15
Test #2 85% 0.15
Test #3 93% 0.15
Exam 75% 0.35
Assignment 70% 0.2
Average
Total N/A


Courses Grade Weight Product

Test #1 90% 0.15 0.135
Test #2 85% 0.15 0.1275
Test #3 93% 0.15 0.1395
Exam 75% 0.35 0.2625
Assignment 70% 0.2 0.14
Average
Total N/A 1 0.8045
0.8045
=80 % 𝐹𝑖𝑛𝑎𝑙 𝐺𝑟𝑎𝑑𝑒
1

Courses Grade Weight

Test #1 90% 0.15
Test #2 85% 0.15
Test #3 93% 0.15
Exam 75% 0.35
Assignment 70% 0.2
Average
OR
= 0.8045 or 80% final grade

Khan Academy Links
Simplifying Fractions
https://www.khanacademy.org/math/arithmetic/fraction-arithmetic/arith-rev
iew-visualizing-equiv-frac/e/simplifying_fractions
Converting Between Fractions, Percents, and Decimals:

Use the ‘search’ function on Khan Academy
Calculating Mean (Arithmetic Average):

https://www.khanacademy.org/math/ap-statistics/summarizing-quantitative-
data-ap/measuring-center-quantitative/e/calculating-the-mean
Calculating Weighted Average:

Not featured?
Practice Problems
• If you have not already completed sections A and E from
exercise 1.2, please do so (Reducing to lowest terms &
expressions with complex fractions).
• Exercise 1.3
Section A – 1, 3, 5, 7, 9, 17
Section B – 1, 3, 5, 7, 9, 27
Section C – 1, 3, 5, 17, 19, 21
• Complete all questions except #5 from Exercise 1.4 Section B

(Weighted Average).

Exercise 1.3 – Section A
Change each of the following percents into a decimal:
1) 64%
3) 2.5%
5) 0.5%
7) 250%
9) 7.5%
17) 112 %
Exercise 1.3 – Section B
Change each of the following percents into a common fraction in
lowest terms:
1) 25%
3) 175%
5) 37 %
7) 4%
9) 40%
27) 0.1%
Exercise 1.3 – Section C
Change each of the following into a percent:
1) 3.5
3) 0.005
5) 0.025
17)
19)
21)
Exercise 1.4
Section B
1) Records of Montes Service’s fuel oil consumption for the last

six-month period show that Montes paid 59.7 per litre for
the first 1100 liters, 66.7 per litre for the next 1600 litres,
and 76.5 per litre for the last delivery of 1400 litres.
Determine the average cost of fuel oil per litre for the six month
period.

Exercise 1.4
Section B
2) On a trip, a motorist purchased gasoline as follows: 56 litres

at $0.99 per litre; 64 litres at $1.065 per litre; 70 litres at
$1.015 per litre; and 54 litres at $1.045 per litre.
a) What was the average number of litres per purchase?

b) What was the average cost per litre?

Exercise 1.4
Section B
3) The course credit hours and grades for Bill’s fall semester are
given below. At his college, an A is worth six grade points, a B
four points, a C two points, and a D one point.
Credit 3 5 2 4 4 2
Hours
Grade B C A C D A
What is Bill’s grade-point average?

Exercise 1.4
Section B
4) Kim Blair invested $7500 in a business on January 1.

She withdrew $900 on March 1, reinvested $1500
on August 1, and withdrew $300 on September 1.
What is Kim’s average monthly investment balance for

the year? Hint: Find her balance each month.

Exercise 1.4
Section B
This one is super hard and nothing like this will be on the test, but give it a shot if
you like.
5) Neuer started a systematic investment program by buying $200.00 worth of

mutual funds on the first day of every month starting on February 1. When you
purchase mutual funds, you purchase units in the fund. Neuer purchased as many
units as he could with his $200, including fractions of units. Unit prices for the first
six months were $10, $10.60, $11.25, $9.50, $9.20, and $12.15, respectively.
a) What is the simple average of the unit prices?

b) What is the total number of units purchased during the first six months
(correct to three decimals)?
c) What is the average cost of the units purchased?
d) What is the value of Neuer’s mutual fund holdings on July 31 if the unit price
on that date is $11.90?

Practice Problem Answers
Exercise 1.3 – Section A

To change a percent to a decimal, divide by 100 or move the decimal two spots
to the left and then remove the % sign.
1) 0.64
3) 0.025
5) 0.005
7) 2.5
9) 0.075
17) 1.125
Exercise 1.3 – Section B

Percents mean a number divided by 100.
After setting up the fraction, divide both terms until it’s as low as it can go.
5)
7) =
27)
Exercise 1.3 – Section C

To change a decimal into a percentage, multiply by 100 or move the decimal 2 spots to the
right, then add the % sign.
To change a fraction into a percentage, divide the numerator by the denominator to make it
a decimal, then follow the steps above!
1) 350%
3) 0.5%
5) 2.5%
17) 75%
19)
21)
Practice Answers – Exercise 1.4 – Section B
1) Records of Montes Service’s fuel oil consumption for the last six-month
period show that Montes paid 59.7 per litre for the first 1100 liters, 66.7
per litre for the next 1600 litres, and 76.5 per litre for the last delivery of
1400 litres.
Determine the average cost of fuel oil per litre for the six month period.
Or = $0.68 weighted average cost of fuel

2) On a trip, a motorist purchased gasoline as follows: 56 litres at $0.99 per
litre; 64 litres at $1.065 per litre; 70 litres at $1.015 per litre; and 54 litres
at $1.045 per litre.
a) What was the average number of litres per purchase?

b) What was the average cost per litre?

3) The course credit hours and grades for Bill’s fall semester are given below.
At his college, an A is worth six grade points, a B four points, a C two points,
and a D one point.
Credit 3 5 2 4 4 2
Hours
Grade B C A C D A
What is Bill’s grade-point average?

4) Kim Blair invested $7500 in a business on January 1. She withdrew $900
on March 1, reinvested $1500 on August 1, and withdrew $300 on
September 1.
What is Kim’s average monthly investment balance for the year?
Answer on next page.

Kim started with $7500.
-900 = 6600 Months at Balance Months Product
the Same (Value) (Weight)
+ 1500 = 8100 Balance
- 300 = $7800
Jan & Feb $7500 2 $15,000
March to end $6600 5 $33,000
of July
August $8100 1 $8,100
Rest of the $7800 4 $31,200
Year
Totals X 12 $87,300
Weighted Average: $87300 / 12 = $7275 per month
Alternatively, we could have solved this with an arithmetic average (mean) calculation:
= $7275 avg

4) Kim Blair invested $7500 in a business on January 1. She withdrew $900
on March 1, reinvested $1500 on August 1, and withdrew $300 on
September 1.
What is Kim’s average monthly investment balance for the year?

5) Neuer started a systematic investment program by buying $200.00 worth
of mutual funds on the first day of every month starting on February 1. When
you purchase mutual funds, you purchase units in the fund. Neuer purchased
as many units as he could with his $200, including fractions of units. Unit
prices for the first six months were $10, $10.60, $11.25, $9.50, $9.20, and
$12.15, respectively.
a) What is the simple average of the unit prices?

5) Neuer started a systematic investment program by buying $200.00 worth of mutual
funds on the first day of every month starting on February 1. When you purchase
mutual funds, you purchase units in the fund. Neuer purchased as many units as he
could with his $200, including fractions of units. Unit prices for the first six months
were $10, $10.60, $11.25, $9.50, $9.20, and $12.15, respectively.
b) What is the total number of units purchased during the first six months (correct to
three decimals)?

Practice Answers – Exercise 1.4 -- Section B
5) Neuer started a systematic investment program by buying $200.00 worth
of mutual funds on the first day of every month starting on February 1. When
you purchase mutual funds, you purchase units in the fund. Neuer purchased
as many units as he could with his $200, including fractions of units. Unit
prices for the first six months were $10, $10.60, $11.25, $9.50, $9.20, and
$12.15, respectively.
c) What is the average cost of the units purchased?

d) What is the value of Neuer’s mutual fund holdings on July 31 if the unit
price on that date is $11.90?

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Contemporary Business

Mathematics With Canadian Applications

Copyright © 2015 Pearson Canada Inc. 01-1

Copyright © 2015 Pearson Canada Inc. 01-2

Copyright © 2015 Pearson Canada Inc. 01-3

11. 30 x 600 – 2500 – 12 x 600

= 18000 – 2500 - 7200

Copyright © 2015 Pearson Canada Inc. 01-4

Section B: Converting Fractions to Decimals

Use a calculator to make the conversion.

Section C: Converting Mixed Numbers to Decimals

Copyright © 2015 Pearson Canada Inc. 01-6

Section D: Round to the penny

Round up the penny if the 3rd digit after the decimal is

❶ Reduce fractions to lowest terms.

❷ Solve mathematical expressions with complex fractions.

❸ Through problem solving, compute simple arithmetic and

Copyright © 2015 Pearson Canada Inc. 01-8

• Fractions should be reduced to lowest terms

• To reduce fractions, divide both terms by factors

Copyright © 2015 Pearson Canada Inc. 01-9

Copyright © 2015 Pearson Canada Inc. 01-10

• by dividing by the largest factor you can think of for

Copyright © 2015 Pearson Canada Inc. 01-11

• Odd numbers are not divisible by even numbers.

• Numbers ending in ‘0’ or ‘5’ are divisible by 5.

• Otherwise, try dividing by prime numbers: 3, 7, 11, or

Copyright © 2015 Pearson Canada Inc. 01-12

Can divide both terms by 10

Can divide both terms by 5

Copyright © 2015 Pearson Canada Inc. 01-13

Can divide both terms by 10

Can divide both terms by 5

Copyright © 2015 Pearson Canada Inc. 01-14

Can divide both terms by 2

Can divide both terms by 3

Can divide both terms by 7

Copyright © 2015 Pearson Canada Inc. 01-15

Copyright © 2015 Pearson Canada Inc. 01-16

Copyright © 2015 Pearson Canada Inc. 01-17

• Be sure to follow the order of operations.

• 400 (1 + 0.1 x .2739726)

Copyright © 2015 Pearson Canada Inc. 01-19

Copyright © 2015 Pearson Canada Inc. 01-21

• First convert the fraction to a decimal, then

Fraction Decimal Percent

Copyright © 2015 Pearson Canada Inc. 01-22

• What is 62% as a fraction?

• Percentages are numbers / 100

Copyright © 2015 Pearson Canada Inc. 01-23

Copyright © 2015 Pearson Canada Inc. 01-25

1. Add the values in a set of numbers to find the sum

2. Divide the sum of the data values by the number of

Copyright © 2015 Pearson Canada Inc. 01-26

• Mean number of hours slept

Copyright © 2015 Pearson Canada Inc. 01-27

• Seven students in a class received the following grades on a

I. What is the average grade on this test?

Copyright © 2015 Pearson Canada Inc. 01-28

Copyright © 2015 Pearson Canada Inc. 01-29