(a) For Region 2, what is the average rate of change per year in price from 2002 to 2005? (b) Use your answer to part (a) to estimate the price in Region 2 at the start of 2004. (The actual price was $6.40 per ton.) (c) For Region 1, what is the average rate of change per year in price from 2005 to 2007? (d) Use your answer to part (c) to estimate the price in Region 1 at the start of 2008.
(a) For Region 2, what is the average rate of change per year in price from 2002 to 2005? (b) Use your answer to part (a) to estimate the price in Region 2 at the start of 2004. (The actual price was $6.40 per ton.) (c) For Region 1, what is the average rate of change per year in price from 2005 to 2007? (d) Use your answer to part (c) to estimate the price in Region 1 at the start of 2008.
Linear Algebra: A Modern Introduction
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Author:David Poole
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Chapter4: Eigenvalues And Eigenvectors
Section4.6: Applications And The Perron-frobenius Theorem
Problem 25EQ
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The following table shows timber stumpage prices for pine pulpwood in two regions of the American South. Prices are in dollars per ton and were recorded at the start of the indicated year.
| Year | Region 1 | Region 2 |
|---|---|---|
| 2002 | 6.30 | 4.00 |
| 2005 | 7.50 | 6.70 |
| 2007 | 7.00 | 9.00 |
(a) For Region 2, what is the average rate of change per year in price from 2002 to 2005?
(b) Use your answer to part (a) to estimate the price in Region 2 at the start of 2004. (The actual price was $6.40 per ton.)
(c) For Region 1, what is the average rate of change per year in price from 2005 to 2007?
(d) Use your answer to part (c) to estimate the price in Region 1 at the start of 2008.
(e) For each region, find the percentage increase in price from 2002 to 2007. (Round your answers to one decimal place.)
(f) On the basis of your answer to part (e), in the absence of other factors, would an investor in timber be better advised to choose Region 1 or Region 2?
(b) Use your answer to part (a) to estimate the price in Region 2 at the start of 2004. (The actual price was $6.40 per ton.)
(c) For Region 1, what is the average rate of change per year in price from 2005 to 2007?
(d) Use your answer to part (c) to estimate the price in Region 1 at the start of 2008.
(e) For each region, find the percentage increase in price from 2002 to 2007. (Round your answers to one decimal place.)
| Region 1 | % |
| Region 2 | % |
(f) On the basis of your answer to part (e), in the absence of other factors, would an investor in timber be better advised to choose Region 1 or Region 2?
Region 1Region 2
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