I wasn't sure if this problem is categorized under statistics, algebra, or calc so I just assumed statistics. Anywho.. I am having difficulty understanding this question:
On May 16, 2000, the US Federal Reserve increased its target for the federal funds rate from 6.00% to 6.50%. This change of ___________ means that the Fed raised its target by approximately __________________.
For the first blank it is looking for a change of percentage points. Would it be a .50% change in percentage points? & For the second blank it is looking for the percentage of how much the Fed raised its target; which I cannot seem to figure out. Any suggestions/help would be awesome!