Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The median home price in a country over the period January 2010 to January 2021 can be approximated by P ( t ) =0.81 t

The median home price in a country over the period January 2010 to January 2021 can be approximated by

P(t) =0.81t20.42t+209thousand dollars (0t11),

wheretis time in years since the start of 2010.(a)Calculate the average rate of change of the median home price (in thousands of dollars per year) over the 5-year period beginning at the start of 2010-> (3.63). thousand dollars per year

Interpret your answer (in dollars per year).

The median home price was increasing at an average rate of about-> $ (3630) per year over the 5-year period beginning at the start of 2010.

(b)What, if anything, does your answer to part (a) say about the median home price in 2012? Explain.

The median home price for 2012 is going to increase by half of the amount in part (a).

The median home price for 2012 is going to decrease by half of the amount in part (a).

chose this one-> (Nothing; the average rate of change of a function over [a,b] is not affected by values of the function betweenaandb.)

(c)Complete the following table (in thousands of dollars per year). (Round your answers to three decimal places.)

Need the table solved all the other questions have been answered!

h 1 0.1 0.01 0.001 0.0001
Avg. Rate of Change ofPover[10, 10 +h]

What do the results suggest about the rate of change of the median home price (in dollars) at the very beginning of 2020? [Hint: See Example 4.] (Round your answer to the nearest whole number.)

Home prices were increasing at a rate of about $ ____________ per year at the very beginning of 2020.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Algebra and Trigonometry

Authors: Ron Larson

10th edition

9781337514255, 1337271179, 133751425X, 978-1337271172

More Books

Students also viewed these Mathematics questions

Question

Describe the even planning process and explain why it is helpful.

Answered: 1 week ago

Question

List factors in selecting a state in which to locate your business.

Answered: 1 week ago

Question

List factors in selecting a city in which to locate your business.

Answered: 1 week ago