In October 2005, a company employs 11000 people and its total monthly wage bill is 11 million dollars. What is the average monthly wage of the company's employees?   Average monthly wage :  ___dollars. The company is growing at a rate of 10 employees per month. The total monthly wage bill is increasing at a rate of 260 thousand dollars per month. At what rate is the average monthly wage changing at this time? Give your answer correct to the nearest cent per month.   Rate of change: ___ dollars per month.

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
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Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
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In October 2005, a company employs 11000 people and its total monthly wage bill is 11 million dollars.

What is the average monthly wage of the company's employees?

 

  • Average monthly wage :  ___dollars.

The company is growing at a rate of 10 employees per month.

The total monthly wage bill is increasing at a rate of 260 thousand dollars per month.

At what rate is the average monthly wage changing at this time?

Give your answer correct to the nearest cent per month.

 

  • Rate of change: ___ dollars per month.

You should be careful over the units in this question.

Hint: write the total monthly wage bill as the function f (t) and the number of employees as the function g (t). What is the average monthly wage in terms of the functions f and g?

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