Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The number of cell phone subscribers in a certain country in the years 2000-2005 was projected to follow the equation N(t) = 39t +

 



The number of cell phone subscribers in a certain country in the years 2000-2005 was projected to follow the equation N(t) = 39t + 74 million subscribers in year t (t = 0 represents January 2000). The average annual revenue per cell phone user was $350 in 2000. If we assume that due to competition the revenue per cell phone user decreases continuously at an annual rate of 20%, we can model the annual revenue as R(t) = 350(39t + 74)e-0.2t million dollars. (a) Determine when to the nearest 0.1 year the revenue was projected to peak. (Submit your answer in terms of t.) yr (b) Determine the revenue, to the nearest $1 million, at that time.. million $

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

Basic Econometrics

Authors: Damodar N. Gujrati, Dawn C. Porter

5th edition

73375772, 73375779, 978-0073375779

More Books

Students also viewed these Mathematics questions