Median Home Price The median home price in the United States over the period Jannuary 2015 can be approximated by
Where t is time in years since the start of 2010. Find
and . What does the second answer tell you about the price of crude oil? [HINT: See Example 2.]
To calculate: The derivative and . Also determine the meaning of derived value of in terms of home prices.
A function of median home prices is thousand dollars, t is time period between January -January and it lies in the range .
Sum and difference rule of derivative is .
Constant multiple rule is , where c is any constant.
Derivative of a constant is .
Power rule for the function is where n is any constant.
Consider the provided function, ,
Apply sum and difference rule of derivative to the function with respect to t.
Apply constant multiple rule,
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