Concept explainers
HOTEL OCCUPANCY RATES The occupancy rate of the allsuite Wonderland Hotel, located near an amusement park, is given by the function
where t is measured in months, with t = 0 corresponding to the beginning of January. Management has estimated that the monthly revenue (in thousands of dollars per month) is approximated by the function
where r is the occupancy rate.
- a. Find an expression that gives the rate of change of Wonderland’s occupancy rate with respect to time.
- b. Find an expression that gives the late of change of Wonderland's monthly revenue with respect to the occupancy rate.
- c. What is the rate of change of Wonderland's monthly revenue with respect to time at the beginning of January? At the beginning of July?
Hint: Use the Chain Rule to find R'(r(0)) r'(0) and R'(r(6)) r'(6).
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Chapter 3 Solutions
Applied Calculus for the Managerial, Life, and Social Sciences: Brief Approach -Text Only (Instructor's)
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillCalculus For The Life SciencesCalculusISBN:9780321964038Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.Publisher:Pearson Addison Wesley,College AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning
- Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:CengageAlgebra and Trigonometry (MindTap Course List)AlgebraISBN:9781305071742Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning
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