Income elasticity of demand measures the extent to which a given good or service is sensitive to a change in income if all other factors remain constant. Income elasticity of demand can be computed by dividing percentage change in quantity by the percentage change in income. It represents a useful measure because it provides an insight into whether a given good or service is a luxury or a necessity.
The true shooting percentage statistic was first introduced by the Association for Professional Basketball Research Metrics (APBRmetrics), and it is now very commonly used in basketball leagues because it provides a very good indication of a basketball player's skill. This True Shooting Percentage calculator can help you quickly and easily compute the TS% of a given player.
The power-to-weight ratio (PWR) is a measurement of the ratio of a vehicle's power to its total weight. There is a positive correlation between a vehicle's PWR and the speed at which it accelerates. That is why motorbikes typically will accelerate at a much quicker pace than cars. Although they are not as powerful, they are lightweight; as such, they have a higher PWR and will accelerate faster.