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Simple division for multifactor productivity ratio is incorrect

  1. #1
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    Simple division for multifactor productivity ratio is incorrect

    I have a weird problem I haven't run into before

    I've done much more complicated problems and never had my division come up with an error

    On the attached png file (screen cap) you'll see that blue are inputs (including desired change in MFPR...mistake), green are outputs, and red is my error

    On the png file you will see that I have written my formulas next to each output including the formula containing the error

    On the right of the sheet you will see the problem (don't worry you aren't illegally helping me with homework...I've done this already and am now preparing calculators for self check come final/midterm time)

    The final answer should be 118.53 yet it is coming out 118.42...checked this on three different calculators

    My options are set for automatic calculation and I have attempted a recalculation

    MS Excel 2013

    Thanks allProblem.png

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    Re: Simple division for multifactor productivity ratio is incorrect

    sorry...here is the attachment as a file
    Attached Images Attached Images

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    Re: Simple division for multifactor productivity ratio is incorrect

    Why should the final result be 275/2.32000000=118.53(448275862...) instead of 275/2.3222222...=118.42(105263...).

    I guess the basic idea is that your difference is due to "rounding" error, but I am not certain why your desired 118.53 result, based on the rounded expected MFPR is more correct than Excel's calculated MFPR that does not round any of the intermediate calculations.

    If you decide that 118.53 is the correct result, then you should probably apply =ROUND() functions to your intermediate calculations to force them to the desired precision. for example, E10 should probably be =ROUND(E3*(1+B10),2).
    Quote Originally Posted by shg
    Mathematics is the native language of the natural world. Just trying to become literate.

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    Re: Simple division for multifactor productivity ratio is incorrect

    thank you!

    Yeah I would have explained previously but I didn't realize that was my issue

    Our problem specifics ask for a certain level of rounding at every step

    thanks a ton

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