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Question
How is the percentage in the chart calculated by the software?
Long Answer
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Solution
- Calculates the Total Sum: The software first adds together all the individual numerical values within the selected data series to find the cumulative grand total (100%).
- Divides Individual Value: It then takes the specific value of an individual category and divides it by that grand total.
- Converts to Percentage: Finally, it multiplies the resulting decimal fraction by 100 and appends a per cent symbol (%) to create the final data label.
- The Formula Used by Excel:
Percentage (%) = `("Value of an Individual Item"/"Total Sum of All Items") xx 100`
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Chapter 4: Graphs and Charts for Business Data - EXERCISE [Page 122]
