Concept explainers
a.
Predict the average monthly benefit in 2017.
a.
Answer to Problem 43E
Explanation of Solution
Given information:
The average monthly Social Security benefit (in dollars) for a retired worker age 62 or over from 2001 through 2010 is given by where represents the year, with corresponding to2001.
Use the model to predict the average monthly benefit in 2017.
Calculation:
To find the average monthly benefit in 2017, replace
Hence, the average monthly benefit in 2017 is about
b.
What is the limit of the function as
b.
Answer to Problem 43E
Explanation of Solution
Given information:
The average monthly Social Security benefit (in dollars) for a retired worker age 62 or over from 2001 through 2010 is given by where represents the year, with corresponding to2001.
What is the limit of the function as
Calculation:
Determine the limit of average monthly benefit function as
Hence, the limit of average monthly benefit function as
c.
c.
Answer to Problem 43E
Explanation of Solution
Given information:
The average monthly Social Security benefit (in dollars) for a retired worker age 62 or over from 2001 through 2010 is given by where represents the year, with corresponding to2001.
Discuss why this model is not realistic for long-term predictions of average monthly Social Security benefits.
Calculation:
As time increases, retired work will need more average monthly Social Security benefit, however this model lasts at
Hence, the model is
Chapter 12 Solutions
EBK PRECALCULUS W/LIMITS
- Calculus: Early TranscendentalsCalculusISBN:9781285741550Author:James StewartPublisher:Cengage LearningThomas' Calculus (14th Edition)CalculusISBN:9780134438986Author:Joel R. Hass, Christopher E. Heil, Maurice D. WeirPublisher:PEARSONCalculus: Early Transcendentals (3rd Edition)CalculusISBN:9780134763644Author:William L. Briggs, Lyle Cochran, Bernard Gillett, Eric SchulzPublisher:PEARSON
- Calculus: Early TranscendentalsCalculusISBN:9781319050740Author:Jon Rogawski, Colin Adams, Robert FranzosaPublisher:W. H. FreemanCalculus: Early Transcendental FunctionsCalculusISBN:9781337552516Author:Ron Larson, Bruce H. EdwardsPublisher:Cengage Learning