Concept explainers
Correcting a Prediction The financial analysts at the store in Example 5 corrected their projections and are now expecting the total sales for the
day of January to be
thousand dollars.
a. Let
be as in Example 5. Compute
and
b. Compare and interpret the data in part (a) as they pertain to the sales on January
Example 5:
Declining Sales:
At the end of holiday season in January, the sales at a department store are expected to fall (Fig. 3). It is estimated that for the
day of January the sales will be
thousand dollars.
a. Compute
b. Estimate the value of sale on January
and compare your result with the exact value
Solution:
a. We have,
thousand dollars.
To compute
as
The equation
and
the sales are
and are falling at the rate of
b. To estimate
Thus, our estimate of the sales on January
from the formula:
This is close to our estimate of
Want to see the full answer?
Check out a sample textbook solutionChapter 1 Solutions
Calculus & Its Applications (14th Edition)
- Table 6 shows the year and the number ofpeople unemployed in a particular city for several years. Determine whether the trend appears linear. If so, and assuming the trend continues, in what year will the number of unemployed reach 5 people?arrow_forwardDuring what time period would the broker advise buying if he thought 500 to 800 was an appropriate buy range? Example 2.10 Beginning in 2001, the price of gold was modeled approximately by G(t)=2551.18t dollars per ounce, where t is the time in years since the beginning of 2001.arrow_forward
- Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:CengageGlencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillCalculus For The Life SciencesCalculusISBN:9780321964038Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.Publisher:Pearson Addison Wesley,
- Functions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage Learning