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Q2. Imagine you are a marketing analyst for a toy company that specializes in children's products. Your company wants to expand its market share
Q2. Imagine you are a marketing analyst for a toy company that specializes in children's products. Your company wants to expand its market share by developing new products and marketing strategies targeted towards children under the age of 18. To accomplish this, you need to understand the changing demographics of the US population over time and how it relates to your company's target market. You obtain the table of P(t) values which gives the percentage of Americans under the age of 18 at time t. The table gives values of this function in census years from 1950 to 2010. t P(t) t P(t) 1950 31.1 1990 25.7 1960 35.7 2000 25.7 1970 34.0 2010 24.0 1980 28.0 (a) What is the meaning of P'(t)? What are its units? (b) Construct a table of estimated values for P'(t). (c) Graph P and P'. (d) How would it be possible to get more accurate values for P'(t)?
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