Forecasting Profits As a result of increasing energy costs, the growth rate of the profit of the 4-year old Venice Glassblowing Company has begun to decline. Venice’s management, after consulting with energy experts, decides to implement certain energy-conservation measures aimed at cutting energy bills. The general manager reports that, according to his calculations, the growth rate of Venice’s profit should be on the increase again within 4 years. If Venice’s profit (in hundreds of dollars) t years from now is given by the function P ( t ) = t 3 – 9 t 2 + 40 t + 50 (0 ≤ t ≤ 8) determine whether the general manager’s forecast will be accurate.
Solution Summary: The author explains how to determine whether general manager's forecast about growth of Venice company is accurate by the given function.
Forecasting Profits As a result of increasing energy costs, the growth rate of the profit of the 4-year old Venice Glassblowing Company has begun to decline. Venice’s management, after consulting with energy experts, decides to implement certain energy-conservation measures aimed at cutting energy bills. The general manager reports that, according to his calculations, the growth rate of Venice’s profit should be on the increase again within 4 years. If Venice’s profit (in hundreds of dollars) t years from now is given by the function
P(t) = t3 – 9t2 + 40t + 50 (0 ≤ t ≤ 8)
determine whether the general manager’s forecast will be accurate.
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