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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 6.60 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? 5.35 x (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.) 5.35 (c) For Region 1, what is the average rate of change per year in price from 2005 to 2007? 7.25 x (d) Use your answer to part (c) to estimate the price in Region 1 at the start of 2008. 7.25 x (e) For each region, find the percentage increase in price from 2002 to 2007. (Round your answers to one decimal place.) Region 1 6.06 Region 2 125 % (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 1 Region 2

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 6.60 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? 5.35 x (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.) 5.35 (c) For Region 1, what is the average rate of change per year in price from 2005 to 2007? 7.25 x (d) Use your answer to part (c) to estimate the price in Region 1 at the start of 2008. 7.25 x (e) For each region, find the percentage increase in price from 2002 to 2007. (Round your answers to one decimal place.) Region 1 6.06 Region 2 125 % (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 1 Region 2

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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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 6.60 4.00 2002 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? 5.35 X (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.) 5.35 (c) For Region 1, what is the average rate of change per year in price from 2005 to 2007? 7.25 x (d) Use your answer to part (c) to estimate the price in Region 1 at the start of 2008. 7.25 X (e) For each region, find the percentage increase in price from 2002 to 2007. (Round your answers to one decimal place.) Region 1 6.06 % Region 2 125 % (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? O Region 1 Ⓒ Region 2
Transcribed Image Text: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 6.60 4.00 2002 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? 5.35 X (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.) 5.35 (c) For Region 1, what is the average rate of change per year in price from 2005 to 2007? 7.25 x (d) Use your answer to part (c) to estimate the price in Region 1 at the start of 2008. 7.25 X (e) For each region, find the percentage increase in price from 2002 to 2007. (Round your answers to one decimal place.) Region 1 6.06 % Region 2 125 % (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? O Region 1 Ⓒ Region 2
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