Finite Math and Applied Calculus (6th Edition)

Published by Brooks Cole
ISBN 10: 1133607705
ISBN 13: 978-1-13360-770-0

Chapter 10 - Section 10.4 - Average Rate of Change - Exercises - Page 734: 38d

Answer

About $-{{\$}} 0.02$ per year, which is less than than the slope of the regression line.

Work Step by Step

The average rate of change of $f$ over the interval $[a, b]$ is Average rate of change of $f\displaystyle \ \ =\frac{f(b)-f(a)}{b-a}$ The units of the average rate of change of $f$ are units of $f(x)$ per unit of $x$. --- $d.$ Over $[2,10]$, the average rate of change for $f$ was $\displaystyle \approx\frac{6.50-6.34}{10-2}=\frac{-0.16}{8}=-0.02$ dollars per year The slope of the regression line is: $\displaystyle \frac{6.32-6.44}{10-2}=\frac{-0.12}{8}=-0.015$ So, the average rate of change is LESS than the slope of the regression line.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.