Answer
$\approx 1.7183$
Work Step by Step
Use the formula for average value with a = 0, and b = 7. The average price is
$\frac{1}{7-0}\int^{7}_{0}(e^{\frac{x}{7}})dx=\frac{1}{7}(\frac{e^{\frac{x}{7}}}{\frac{1}{7}})|^{7}_{0} \approx 1.7183$
Calculus with Applications (10th Edition)
by Lial, Margaret L.; Greenwell, Raymond N.; Ritchey, Nathan P.
Published by
Pearson
ISBN 10:
0321749006
ISBN 13:
978-0-32174-900-0
Chapter 8 - Further Techniques and Applications of Integration - 8.2 Volume and Average Value - 8.2 Exercises - Page 440: 29
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