Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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![Suppose the likelihood that a child will attend a live theatrical performance can be modeled by
q = 0.01(-0.0076x² + 1.4x + 4.1)
(15 < x< 100).
%3D
Here, q is the fraction of children with annual household income x thousand dollars who will attend a live dramatic performance at a theater during the year. Compute the income elasticity of demand E at an income level of
$20,000. (Round your answer to two decimal places.) HINT [See Example 2.]
E =
Interpret the result.
At a family income level of $
the fraction of children attending a live theatrical performance is increasing by
% per 1% increase in household income.](https://content.bartleby.com/qna-images/question/81ee6999-2030-4d54-bd50-9b492061a320/1c32a863-08a6-4a81-98f2-8ace07865550/9vi98ni_processed.png)
Transcribed Image Text:Suppose the likelihood that a child will attend a live theatrical performance can be modeled by
q = 0.01(-0.0076x² + 1.4x + 4.1)
(15 < x< 100).
%3D
Here, q is the fraction of children with annual household income x thousand dollars who will attend a live dramatic performance at a theater during the year. Compute the income elasticity of demand E at an income level of
$20,000. (Round your answer to two decimal places.) HINT [See Example 2.]
E =
Interpret the result.
At a family income level of $
the fraction of children attending a live theatrical performance is increasing by
% per 1% increase in household income.
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