The following table shows the net monthly income N for a real estate agency as a function of the monthly real estate sales s, both measured in dollars. s = Sales N = Net income 450,000 3000 500,000 3500 550,000 4000 600,000 4500 (a) Make a table showing, for each of the intervals in the table above, the average rate of change in N. Interval 450,000 to 500,000 500,000 to 550,000 550,000 to 600,000 Rate of change What pattern do you see? The average rate of change increases at a constant rate.The average rate of change decreases at a constant rate. The average rate of change is constant.The average rate of change increases at a decreasing rate. (b) Use the average rate of change to estimate the net monthly income for monthly real estate sales of $520,000. $ In light of your answer to part (a), how confident are you that your estimate is an accurate representation of the actual income? Due to the constant rate of change, this should be an accurate representation of the actual income.Due the increase in the rate of change at higher sales levels, this estimation is probably lower than the actual value. Due the decrease in the rate of change at higher sales levels, this estimation is probably higher than the actual value.Due the decrease in the rate of change at higher sales levels, this estimation is probably lower than the actual value. (c) Would you expect N to have a limiting value? YesNo Explain your reasoning.

Trigonometry (MindTap Course List)

10th Edition

ISBN:9781337278461

Author:Ron Larson

Publisher:Ron Larson

Chapter5: Exponential And Logarithmic Functions

Section5.5: Exponential And Logarithmic Models

Problem 4ECP

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The following table shows the net monthly income N for a real estate agency as a function of the monthly real estate sales s, both measured in dollars.

s = Sales	N = Net income
450,000	3000
500,000	3500
550,000	4000
600,000	4500

(a) Make a table showing, for each of the intervals in the table above, the average rate of change in N.

Interval	450,000 to 500,000	500,000 to 550,000	550,000 to 600,000
Rate of change

What pattern do you see?

The average rate of change increases at a constant rate.The average rate of change decreases at a constant rate. The average rate of change is constant.The average rate of change increases at a decreasing rate.

(b) Use the average rate of change to estimate the net monthly income for monthly real estate sales of $520,000.
$
In light of your answer to part (a), how confident are you that your estimate is an accurate representation of the actual income?

Due to the constant rate of change, this should be an accurate representation of the actual income.Due the increase in the rate of change at higher sales levels, this estimation is probably lower than the actual value. Due the decrease in the rate of change at higher sales levels, this estimation is probably higher than the actual value.Due the decrease in the rate of change at higher sales levels, this estimation is probably lower than the actual value.

YesNo

Explain your reasoning.

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