Answered: (a) For Region 2, what is the average…

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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The following table shows timber stumpage prices for pine pulpwood in two regions of the American South. Prices are in dollars per ton and were recorded at the start of the indicated year.

Year	Region 1	Region 2
2002	6.30	4.00
2005	7.50	6.70
2007	7.00	9.00

(a) For Region 2, what is the average rate of change per year in price from 2002 to 2005?

(b) Use your answer to part (a) to estimate the price in Region 2 at the start of 2004. (The actual price was $6.40 per ton.)

(c) For Region 1, what is the average rate of change per year in price from 2005 to 2007?

(d) Use your answer to part (c) to estimate the price in Region 1 at the start of 2008.

(e) For each region, find the percentage increase in price from 2002 to 2007. (Round your answers to one decimal place.)

Region 1	%
Region 2	%

(f) On the basis of your answer to part (e), in the absence of other factors, would an investor in timber be better advised to choose Region 1 or Region 2?

Region 1Region 2

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