7th Edition

ISBN: 9781337291248

Author: Waner, Stefan.

Publisher: Cengage Learning,

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Textbook Question

Chapter 4.4, Problem 89E

Existing Home Sales The following graph shows the approximate value of home prices and existing home sales in 2006–2010 as a percentage change from 2003, together with quadratic approximations:

Home prices and sales of existing homes

Chapter 4.4, Problem 89E, Existing Home Sales The following graph shows the approximate value of home prices and existing home

The quadratic approximations are given by

Home prices: P ( t ) = t 2 − 10 t + 41 ( 0 ≤ t ≤ 4 )

Existing home sales: S ( t ) = 1.5 t 2 − 11 t ( 0 ≤ t ≤ 4 ) , where t is time in years since the start of 2006. Use the chain rule to estimate d S d P | t = 2 . What does the answer tell you about home sales and prices? [HINT: See Quick Examples 6 and 7.]

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Chapter 4.4, Problem 88E

Chapter 4.4, Problem 90E

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