The following graph shows imports of three different types of steel over a period of six months of a year. Study the graph and answer the questions.
The figures in the brackets indicate the average cost per ton over six months period.
What was the approximate ratio of sheet steel and scrap steel imports in the first three months of the year?
To determine the approximate ratio of sheet steel to scrap steel imports in the first three months, the total import volumes for each steel type must be calculated from the provided data.
The required ratio of sheet steel to scrap steel imports is calculated as:
Ratio = 113 / 98
This division yields approximately 1.153. Rounding this value, the approximate ratio is 1.2 : 1.
Options (1), (3), and (4) are incorrect because their stated ratios (1:1, 1.4:1, and 1.6:1 respectively) do not align with the calculated approximate ratio of 1.2:1 derived from the import data for the first three months.