Percentage calculation is essential for interpreting and presenting data, especially in survey results like our problem on magazine preferences. A percentage represents a portion out of a hundred and is denoted by the symbol \(%\).
To calculate percentages in problems involving sets:
- Identify the base value: This is often the total population or whole amount from which we are calculating the percentage. In the Venn Diagram problem, B represents the total number of students surveyed.
- Express parts of the whole: Portions are often given or need to be calculated from the information. For our exercise, \(38\%\), \(26\%\), and \(36\%\) represent the parts of the whole who favor magazines A, B, and C respectively.
- Use proportional relationships: The Inclusion-Exclusion Principle helps us calculate complex relationships and find the intersecting sets. After these are determined, subtracting the percentage of students who favor all three magazines from the total percentage who favor more than one gives us the desired percentage of interest.
In the provided exercise, we used these steps to find that \(33\%\) of students favor more than one magazine. This kind of percentage calculation is a vital skill across various fields including statistics, economics, and even in everyday life scenarios like shopping discounts or calculating taxes.