The annual net income of a company for the period 2007-2011 could be approximated by P(t) = 1.6t2. - 11t + 43 billion dollars !! (2 stS 6), where t is the time in years since the start of 2005. According to the model, during what year in this period was the company's net income the lowest? What was the corresponding net income? Would you trust this model to continue to be valid long past this period? Why or why not?
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
The annual net income is defined as billion dollars where is the years since the start of 2005.
To find the year in which the function has minimum value, find the value of t where the derivative is zero.
Thus, the value of where the model has minimum value is .
Since is the years since the start of 2005, corresponds to the year 2008.
That is, the company's net income is the lowest in the year .
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