Given a cost function C(x) as C(x)=20+x−12x2, calculate the marginal average cost when x=2, use this to approximate the average cost when x=3, and calculate the percentage error between this estimate and the actual cost when x=3. Give your answer as a percentage to the nearest integer. Do not include the percent symbol in your answer.
Given a cost function C(x) as C(x)=20+x−12x2, calculate the marginal average cost when x=2, use this to approximate the average cost when x=3, and calculate the percentage error between this estimate and the actual cost when x=3. Give your answer as a percentage to the nearest integer. Do not include the percent symbol in your answer.
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter2: Functions
Section2.4: Average Rate Of Change Of A Function
Problem 4.2E: bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.
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Given a cost function C(x) as
C(x)=20+x−12x2,
calculate the marginal average cost when x=2, use this to approximate the average cost when x=3, and calculate the percentage error between this estimate and the actual cost when x=3. Give your answer as a percentage to the nearest integer. Do not include the percent symbol in your answer.
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Step 1: Introduce to the given function
VIEWStep 2: Determining the average cost function and marginal average cost function
VIEWStep 3: Determining the marginal average cost when x = 2
VIEWStep 4: Determining the approximate average cost when x = 3
VIEWStep 5: Determining the percentage error between this estimate and the actual cost when x=3
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