In this exercise, we estimate the rate at which the total personal income is rising in a metropolitan area. In 1999, the population of this area was 942,200, and the population was increasing at roughly 9100 people per year. The average annual income was $34,549 per capita, and this average was increasing at about $1400 per year (a little above the national average of about $1225 yearly). Use the Product Rule and these figures to estimate the rate at which total personal income was rising in the area in 1999. (Round your answer to three decimal places.)
Calculus - Steve, Wednesday, November 2, 2011 at 11:04am
Total personal income is just the per capita income times the population:
T = PI
T' = P'I + PI'
T' = 9100*34549 + 942200*1400
What decimal places? Everything is given in integers
Calculus - Annie, Wednesday, November 2, 2011 at 9:55pm
That is the wrong answer.