Concept explainers
Sales The rate of sales of your company’s Jackson Pollock Advanced Paint-by-Number sets can be modeled by
t months after their introduction. Find an expression for the total number of paint-by-number sets
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Finite Mathematics and Applied Calculus (MindTap Course List)
- Mortgage Rates The following table is taken from the website of Freddie Mac. It shows rates for 30-year fixed-rate mortgages since 1970. y=Year r=Mortgagerate 1975 9.05 1980 13.74 1985 12.43 1990 10.13 1995 7.93 2000 8.05 2005 5.87 2010 4.69 2015 3.84 a. Explain in practical terms the meaning of r(2003). b. Use the table to estimate the value of r(2003).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_forwardDVD Player Sales The table shows the number of DVD players sold in a small electronics store in the years 2003-2013. Year DVD players sold 2003 495 2004 513 2005 410 2006 402 2007 520 2008 580 2009 631 2010 719 2011 624 2012 582 2013 635 aWhat was the average rate of change of sales between 2003 and 2013? bWhat was the average rate of change of sales between 2003 and 2004? cWhat was the average rate of change of sales between 2004 and 2005? dBetween which two successive years did DVD player sales increase most quickly? Decrease most quickly?arrow_forward
- Grade Point Average In many universities students are given grade points for each credit unit according to the following scale: A 4 points B 3 points C 2 points D 1 point F 0 point For example, a grade of A in a 3-unit course earns 43=12 grade points and a grade of B in a 5-unit course earns 35=15 grade points. A students grade point average GPA for these two courses is the total number of grade points earned divided by the number of units; in this case the GPA is (12+15)8=3.375. a Find a formula for the GPA of a student who earns a grade of A in a units of course work, B in b units, C in c units, D in d units and F in f units. b Find the GPA of a student who has earned a grade of A in two 3-unit courses, B in one 4-unit courses and C in three 3-unit courses.arrow_forwardStock Market The week of September 15, 2008 was one of the most volatile weeks ever for the US stock market. The closing numbers of the Dow Jones Industrial Average each day were: What was the overall change for the week? Was it positive or negative?arrow_forwardClearance A department store is clearing out merchandise in order to make room for new inventory. The plan is to mark down items by 30% each week. This means that each week the cost of an item is 70% of the previous week’s cost. If the original cost of a sofa was $1,000, the cost for the first week would be $1000(0.70) and the cost of the item during the second week would be $1,000(0.70)2. Complete the table shown below. What will be the cost of the sofa during the fifth week? Simplify the expression, to show the cost in dollars.arrow_forward
- Agriculture At a certain vineyard it is found that each grape vine produces about 10 lb of grapes in a season when about 700 vines are planted per acre. For each additional vine that is planted, the production of each vine decreases by about 1 percent. So, the number of pounds of grapes produced per acre is modeled by An=700+n10-0.01n where n is the number of additional vines planted. Find the number of vines that should be planted to maximize grape production.arrow_forwardSales Barnes & Noble had annual sales of $6.8 billion in 2013 and $6.1 billion in 2015. Use the Midpoint Formula to estimate the sales in 2014. Assume that the annual sales followed a linear pattern.arrow_forwardHigh School Graduates The following table shows the number, in millions, graduating from high school in the United States in the given year. Year Number graduating in millions 1985 2.83 1987 2.65 1989 2.47 1991 2.29 a. By calculating difference, show that these data can be modeled using a linear function. b. What is the slope for the linear function modeling high school graduations? Explain in practical terms the meaning of the slope. c. Find a formula for a linear function that models these data. d. Express, using functional notation, the number graduating from high school in 1994, and then use your formula from part c to calculate that value.arrow_forward
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