Explanation It is given that there were 37% summer vacationers in a European country in 2005 and the Travel Data Center of that country has estimated that the percentage of vacations traditionally taken during the months of July, August, and September will continue to decline at the rate of R ( t ) = − 2 e 1 ( t + 1 ) . The percentage of vacations traditionally taken during the months of July, August, and September will continue to decline is given by R ( t ) = − 2 e 1 ( t + 1 ) at P ( 0 ) = 37 . Make the substitution u = 1 t + 1 . t + 1 = 1 u t = 1 u − 1 t = 1 u − 1 Here, d t = − 1 u 2 d u . Integrate the function as follows. F ( u ) = − 2 ∫ e u ( − d u u 2 ) = 2 ∫ e u u 2 d u Now approximate e u at u = 0 by a fourth-degree Taylor polynomial. It is known that e u = 1 + u + u 2 2 ! + u 3 3 ! + u 4 4 ! . F ( u ) = 2 ∫ 1 u 2 ( 1 + u + u 2 2 ! + u 3 3 ! + u 4 4 ! ) d u = 2 ∫ ( 1 u 2 + 1 u + 1 2 + u 6 + u 2 24 ) d u = 2 ( − 1 u + ln u + 1 2 u + u 2 12 + u 3 72 ) + C Therefore, P ( t ) becomes, P ( t ) = 2 ( − ( t + 1 ) + ln ( 1 t + 1 ) + 1 2 ( 1 t + 1 ) + 1 12 ( t + 1 ) 2 + 1 72 ( t + 1 ) 3 ) + C Using the condition P ( 0 ) = 37 , find C

Applied Calculus for the Managerial, Life, and Social Sciences (MindTap Course List)

10th Edition

ISBN: 9781305657861

Author: Soo T. Tan

Publisher: Cengage Learning

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Chapter 11.1, Problem 40E

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To estimate: The percentage of vacations that were taken in the summer months in 2015 if the rate is R(t)=−2e1(t+1) during the months of July, August and September.

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Chapter 11.1, Problem 39E

Chapter 11.1, Problem 41E

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A researcher has collected and analyzed data to study the returns to education for a representative sample of the US population in 2005. Results of this analysis are reported in Table 1 below. The dependent variable is log(AHE), the logarithm of the person's average hourly earnings; Education is measured in years; F female is a dummy variable, equal to 1 if the person is a woman and 0 otherwise; finally, Experience measures the years of labor market experience. Estimate Std. Error t value Pr(> 2) 0.000 0.000 0.022871 (Intercept) Education 1.4387 62.902 0.1ZZZ 0.001154 89.789 Female -0.4499 0.024276 -18.534 0.000 0.001718 0.001222 0.000023 7.714 0.000 Female x Education Experience Experience 0.0133 0.0144 11.751 -8.950 0.000 -0.0002 0.000 Table 1: Regression Output A) Replace ZZZ with 1335 So Education as 0.1335 and solve the problem based on that What is the effect captured by B5? If BS is negative, what happens to log(AHE) when Experience increases? B) What is the expected percentage…

Chapter 11 Solutions

Applied Calculus for the Managerial, Life, and Social Sciences (MindTap Course List)

Ch. 11.1 - Prob. 1CQ Ch. 11.1 - Prob. 2CQ Ch. 11.1 - Prob. 1E Ch. 11.1 - In Exercises 110, find the first three Taylor...Ch. 11.1 - Prob. 3E Ch. 11.1 - Prob. 4E Ch. 11.1 - Prob. 5E Ch. 11.1 - Prob. 6E Ch. 11.1 - Prob. 7E Ch. 11.1 - Prob. 8E

Ch. 11.1 - In Exercises 110, find the first three Taylor...Ch. 11.1 - Prob. 10E Ch. 11.1 - Prob. 11E Ch. 11.1 - Prob. 12E Ch. 11.1 - Prob. 13E Ch. 11.1 - Prob. 14E Ch. 11.1 - In Exercises 1120, find the nth Taylor polynomial...Ch. 11.1 - Prob. 16E Ch. 11.1 - Prob. 17E Ch. 11.1 - Prob. 18E Ch. 11.1 - Prob. 19E Ch. 11.1 - Prob. 20E Ch. 11.1 - Prob. 21E Ch. 11.1 - Prob. 22E Ch. 11.1 - Prob. 23E Ch. 11.1 - Prob. 24E Ch. 11.1 - Prob. 25E Ch. 11.1 - Prob. 26E Ch. 11.1 - Prob. 27E Ch. 11.1 - Prob. 28E Ch. 11.1 - Prob. 29E Ch. 11.1 - Prob. 30E Ch. 11.1 - Prob. 31E Ch. 11.1 - Prob. 32E Ch. 11.1 - Prob. 33E Ch. 11.1 - Prob. 34E Ch. 11.1 - Let f(x) = ex. a. 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To estimate: The percentage of vacations that were taken in the summer months in 2015 if the rate is R ( t ) = − 2 e 1 ( t + 1 ) during the months of July, August and September.

Solution Summary: The author estimates the percentage of vacations that were taken in the summer months in 2015 if the rate is underset_9.5%.

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To estimate: The percentage of vacations that were taken in the summer months in 2015 if the rate is R(t)=−2e1(t+1) during the months of July, August and September.

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Chapter 11 Solutions