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The likelihood that a child will attend a live musical performance can be modeled by q = 0.01(0.0005x2 + 0.37x + 37) (15 s xs 100). Here, q is the fraction of children with annual household income x thousand dollars who will attend a live musical performance during the year. Compute the income elasticity of demand E at an income level of $30,000. (Round your answer to two significant digits.) E = Interpret the result. At a family income level of $ 30000 , the fraction of children attending a live musical performance is increasing by X % per 1% increase in household income.

The likelihood that a child will attend a live musical performance can be modeled by q = 0.01(0.0005x2 + 0.37x + 37) (15 s xs 100). Here, q is the fraction of children with annual household income x thousand dollars who will attend a live musical performance during the year. Compute the income elasticity of demand E at an income level of $30,000. (Round your answer to two significant digits.) E = Interpret the result. At a family income level of $ 30000 , the fraction of children attending a live musical performance is increasing by X % per 1% increase in household income.

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter7: Analytic Trigonometry
Section7.6: The Inverse Trigonometric Functions
Problem 91E
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The likelihood that a child will attend a live musical performance can be modeled by q = 0.01(0.0005x2 + 0.37x + 37) (15 < x < 100). Here, g is the fraction of children with annual household income x thousand dollars who will attend a live musical performance during the year. Compute the income elasticity of demand E at an income level of $30,000. (Round your answer to two significant digits.) E = Interpret the result. At a family income level of $ 30000 , the fraction of children attending a live musical performance is increasing by X % per 1% increase in household income.
Transcribed Image Text:The likelihood that a child will attend a live musical performance can be modeled by q = 0.01(0.0005x2 + 0.37x + 37) (15 < x < 100). Here, g is the fraction of children with annual household income x thousand dollars who will attend a live musical performance during the year. Compute the income elasticity of demand E at an income level of $30,000. (Round your answer to two significant digits.) E = Interpret the result. At a family income level of $ 30000 , the fraction of children attending a live musical performance is increasing by X % per 1% increase in household income.
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