Concept explainers
Market Index Joe Downs runs a small investment company from his basement. Every week, he publishes a report on the success of his investments, including the progress of the Joe Downs Index. At the end of one particularly memorable week, he reported that the index for that week had the value
points, where t represents the number of business days into the week; t ranges from 0 at the beginning of the week to 5 at the end of the week. The graph of I is shown below:
I(Joe Down Index)
On average, how fast and in which direction was the index changing over the first two business days (the interval
)?[HINT: See Example 3.]
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Finite Mathematics and Applied Calculus (MindTap Course List)
- Continued This is a continuation of Exercise 13. As we saw earlier, the stock turnover rate of an item is the number of times that the average inventory of the item needs to be replaced as a result of sales in a given time period. Suppose that a hardware store sells 80 shovels each year. a. Suppose that the hardware store maintains an average inventory of 5 shovels. What is the annual stock turnover rate for the shovels? How is this related to the yearly number of orders to the wholesaler needed to restock inventory? b. What would he the annual stock turnover rate if the store maintained an average inventory of 20 shovels? c. Write a formula expressing the annual stock turnover rate as a function of the average inventory of shovels, identify the function and the variable, and state the units.arrow_forwardWhen hired at a new job selling electronics, you aregiven two pay options: • Option A: Base salary of $10,000 a year with acommission of 9% of your sales • Option B: Base salary of $20,000 a year with acommission of 4% of your sales How much electronics would you need to sell foroption A to produce a larger income?arrow_forward
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