Concept explainers
Demographics The number of citizens aged 45-64 years is approximated by
where P(t) is measured in millions and t is measured in years, with t = 0 corresponding to the beginning of 1990. People belonging to this age group are the targets of insurance companies that want to sell them annuities. What was the expected population of citizens aged 45-64 years in 2010?
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Chapter 5 Solutions
Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach
- 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_forwardVoting-Age Population The total voting-age population P (in millions) in the United States from 1990 through 2014 can be modeled by P=184.64+0.7524t21+0.0028t2,0t24 where t represents the year, with t=0 corresponding to 1990. (a) In which year did the total voting-age population reach 210 million? (b) Use the model to predict when the total voting-age population will reach 260 million. Is this prediction reasonable? Explain.arrow_forward
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