Question

In the town of Big Sky, Montana in the year 2003 the population of the town...

In the town of Big Sky, Montana in the year 2003 the population of the town was 25,000 and the population was increasing by a rate of 1,100 people per year. Also, in that year, the average annual income per capita was $33,000 and this average was increasing at a rate of $1,400 per year.

Find the rate at which the total personal income in the town is increasing in the year 2003.

Please show the detailed steps to solve this not just the answer.

Homework Answers

Answer #1

Comment in case of any doubt.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
In this exercise, we estimate the rate at which the total personal income is rising in...
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 987,700, and the population was increasing at roughly 9500 people per year. The average annual income was $34,549 per capita, and this average was increasing at about $1300 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...
The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of...
The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer. Month, Occupancy-Days, Electrical Costs January 2,710 $5,270 February 3,600 $6,205 March 860 $2,150      April 2,170 $4,350      May 4,200 $7,160      June 1,530 $3,825 July 4,110 $7,050 August 4,060...
The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of...
The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer. Month Occupancy-Days Electrical Costs January 1,736 $ 4,127 February 1,904 $ 4,207 March 2,356 $ 5,083 April 960 $ 2,857 May 360 $ 1,871 June 744 $...
The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of...
The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel’s business is highly seasonal, with peaks occurring during the ski season and in the summer. Month Occupancy-Days Electrical Costs January 3,350 $ 9,241 February 3,610 $ 9,666 March 1,680 $ 5,208       April 1,230 $ 3,813       May 4,380 $ 10,428      ...
The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of...
The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel’s business is highly seasonal, with peaks occurring during the ski season and in the summer. Month Occupancy-Days Electrical Costs January 2,710 $ 5,270 February 3,600 $ 6,205 March 860 $ 2,150       April 2,170 $ 4,350       May 4,200 $ 7,160      ...
The following table shows the population in a town in the given year. Year 1960 1970...
The following table shows the population in a town in the given year. Year 1960 1970 1980 1990 2000 Population 2005 2549 3100 3670 4010                   a) Which is the independent variable? Which is the dependent variable?                                     Independent: _____________             Dependent: _______________                   b) Find the percent change in population from 1980 to 1990.                   c) Find the average growth rate in population from 1980 to 1990.                   d) Use interpolation to estimate the number of people in 1984. Round...
The population of a country Dnalgne is 4040 million in 2017 and increasing at a rate...
The population of a country Dnalgne is 4040 million in 2017 and increasing at a rate of 0.80.8 million per year. The average annual income of a person in Dnalgne during 2017 was 2400024000 dollars per year and increasing at a rate of 700700 dollars per year.How quickly was the total income of the entire population rising in 2017?
Exercise 6A-1 High-Low Method [LO6-10] The Cheyenne Hotel in Big Sky, Montana, has accumulated records of...
Exercise 6A-1 High-Low Method [LO6-10] The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer. Month Occupancy-Days Electrical Costs January 1,736 $ 4,127 February 1,904 $ 4,207 March 2,356 $ 5,083 April 960 $ 2,857 May 360...
The following table depicts statistics on GDP per capita (ie, GDP/population) in column (1) and its...
The following table depicts statistics on GDP per capita (ie, GDP/population) in column (1) and its growth rate for the country groups (column 2) defined by GDP levels (High-income, Middle-income and Low-income). They are all expressed as real (constant) GDP. A B C Country group GDP per capita (Year 2010) Average annual growth rate of real GDP per capita (Year 2000-2010) GDP per capita (Year 2088) High-income 38,293 0.9% 77024.76 Middle-income 3,980 4.8% 154192.5 Low-income 507 3.0% 5085.24 Throughout this...
Exercise 6A-1 High-Low Method [LO6-10] The Cheyenne Hotel in Big Sky, Montana, has accumulated records of...
Exercise 6A-1 High-Low Method [LO6-10] The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel’s business is highly seasonal, with peaks occurring during the ski season and in the summer. Month Occupancy-Days Electrical Costs January 3,290 $ 16,450 February 3,160 $ 15,800 March 1,800 $ 9,000 April 4,430 $ 18,500 May 970...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT