Estimate the rate at which the total personal income is rising. The population is 961,400 and it increases by 9,200 people per year. The average annual income is 30,593 dollars per capita, and this increases by 1,400 dollars per year.
Using the product rule, estimate the rate at which the total personal income rises. Please help. I don't even know where to begin.
Estimate the rate at which the total personal income is rising. The population is 961,400 and it increases by 9,200 people per year. The average annual income is 30,593 dollars per capita, and this increases by 1,400 dollars per year.
Using the product rule, estimate the rate at which the total personal income rises. Please help. I don't even know where to begin.
$30,593 X 961,400 =$29,412,110,200 Total annual income for entire population.
$1,400 X 961,400 =$1,345,960,000 Expected annual income increase for entire population
$29,412,110,200 + $1,345,960,000 =$30,758,070,200 Annual income after expected increase.
961,400 + 9,200 =970,600 Total population after expected increase. Therefore,
$30,758,070,200 / 970,600 =$31,689.75 Expected average annual income after increase.
$31,689.75/$30,593.00=1.0358 - 1 =.0358 X 100 =3.58% Estimate of the rate at which income will rise for the entire population.
Estimate the rate at which the total personal income is rising. The population is 961,400 and it increases by 9,200 people per year. The average annual income is 30,593 dollars per capita, and this increases by 1,400 dollars per year.
Using the product rule, estimate the rate at which the total personal income rises. Please help. I don't even know where to begin.
$30,593 X 961,400 =$29,412,110,200 Total annual income for entire population.
$1,400 X 961,400 =$1,345,960,000 Expected annual income increase for entire population
$29,412,110,200 + $1,345,960,000 =$30,758,070,200 Annual income after expected increase.
961,400 + 9,200 =970,600 Total population after expected increase. Therefore,
$30,758,070,200 / 970,600 =$31,689.75 Expected average annual income after increase.
$31,689.75/$30,593.00=1.0358 - 1 =.0358 X 100 =3.58% Estimate of the rate at which income will rise for the entire population.
+270 I'm not sure that this answer is right (at least in the terms that OP was reffering to). The product rule for derrivatives is
derivative of fg = fg' + f'g
I *think* the two functions given in the equation would be:
p(t) = 961400+9200t
a(x) = 30593+1400t
p'(t) = 9200
a'(t) = 1400
so the derivative of pa is = pa' + p'a
