Find the rate of change of profit at the second year. Interpret your result.
P(x)=0.04x^2+8
P(2)=0.04(2)^2+8
P(2) = 8.16 million
The rate of change of profit is given by the slope, m. For every year that the company operates its business, its annual profits will increase at a rate of 0.04.
I DON'T KNOW ECONOMICS BUT THE RATE OF CHANGE MAY REQUIRE FIRST DERIVATIVE.
.P(x)=0.04x^2+8
=>P'(x)=2*(0.04)x+0
=>P'(x)=0.08x.
So, after two years P'(2)=0.08*2(million)=0.16million.
P(x) = (x/5)^2 + 8
P ' (x) = 2(x/5)(1/5) = 2x/25
evaluate P '(2) = 4/25 = (2/5)^2 = 16/100 = 0.16 = 16%
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P(x)=0.04x^2+8
P(2)=0.04(2)^2+8
P(2) = 8.16 million
The rate of change of profit is given by the slope, m. For every year that the company operates its business, its annual profits will increase at a rate of 0.04.
I DON'T KNOW ECONOMICS BUT THE RATE OF CHANGE MAY REQUIRE FIRST DERIVATIVE.
.P(x)=0.04x^2+8
=>P'(x)=2*(0.04)x+0
=>P'(x)=0.08x.
So, after two years P'(2)=0.08*2(million)=0.16million.
P(x) = (x/5)^2 + 8
P ' (x) = 2(x/5)(1/5) = 2x/25
evaluate P '(2) = 4/25 = (2/5)^2 = 16/100 = 0.16 = 16%