Concept explainers
Internet Advertising When OHaganBooks.com actually went ahead and increased Internet advertising from $5,000 per month to $6,000 per month (see Exercise 33) it was noticed that the number of new visits increased from an estimated 2,050 per day to 2,100 per day. Use this information to construct a linear model giving the average number v of new visits per day as a function of the monthly advertising expenditure c.
a. What is the model?
b. Based on the model, how many new visits per day could be anticipated if OHaganBooks.com budgets $7,000 per month for Internet advertising?
c. The goal is to eventually increase the number of new visits to 2,500 per day. Based on the model, how much should be spent on Internet advertising to accomplish this?
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Finite Mathematics and Applied Calculus (MindTap Course List)
- Sales Barnes & Noble had annual sales of $6.8 billion in 2013 and $6.1 billion in 2015. Use the Midpoint Formula to estimate the sales in 2014. Assume that the annual sales followed a linear pattern.arrow_forwardHOW DO YOU SEE IT? Discuss how well a linear model approximates the data shown in each scatter plot.arrow_forwardEmployee Turnover The percentage of employees who cease their employment during a year is referred to as employee turnover, and it is a serious issue for businesses. The following table shows the cost, in millions of dollars, to Walmart for a given employee turnover percentage in a year.13 E = employee turnover 10 20 30 40 C = cost 250 400 550 700 a. Show that the data can be modeled by a linear function. b. Find the slope of the linear function. c. Find a linear model for the data. d. Use the result from part c to find the cost to Walmart if employee turnover is 33 in a year.arrow_forward
- Tuition at American Public Universities This is a continuation of Exercise 6. The following table shows the average yearly in-state tuition and required fees, in dollars, charged by four-year American public universities in the school year ending in the given year. Date Average tuition 2012 8318 2013 8595 2014 8872 2015 9149 2016 9426 a. Show that these data can be modeled by a linear function, and find its formula. b. What is the slope for the linear function modeling tuition and required fees for public universities? c. What is the slope of the linear function modeling tuition and required fees for private universities? Note: See Exercise 6. d. Explain what the information in parts b and c tells you about the rate of increase in tuition in public versus private institutions. e. Which type of institution shows the larger percentage increase from 2015 to 2016? 6. Tuition at American Private Universities The following table shows the average yearly tuition and required fees, in dollars, charged by four-year American private nonprofit universities in the school year ending in the given year. Date Average tuition 2012 27, 870 2013 29, 004 2014 30, 138 2015 31, 272 2016 32, 406 a. Show that these data can be modeled by a linear function, and find its formula. b. Plot the data points and add the graph of the linear formula you found in part a. c. What prediction does this formula give for average tuition and fees at four-year American private nonprofit universities for the academic year ending in 2021?arrow_forwardCost of Adding Employees The following table shows the cost, in millions of dollars, to Walmart of adding the given number of employees to each of its superstores.14 E = number of new employees 1 2 3 4 C = cost 89.6 179.2 268.8 358.4 a. Find a linear model for the data in the table. b. Explain in practical terms the meaning of the slope of the linear model you found in part a.arrow_forward
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