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floydsidney1119

01.08.2020

Mathematics

(A) The price of product A is increasing by 3% per year.

(B) The product A recorded a greater percentage change in price over the previous year.

Step-by-step explanation:

(A)

The function representing the price, in dollars, of product A after x years is:

$f_{A}(x)=0.69\cdot(1.03)x$

The function $f_{A}(x)$ can be written as:

$f_{A}(x)=0.69\cdot(1+0.03)x$

The function $f_{A}(x)$ is similar to the exponential growth function, y=a(1+r)x .

Here r is the growth rate.

Thus, it can be said that the price of product A is increasing by 3% per year.

(B)

Consider the data of product B for the year 3 and 4.

The price of product B for year 3 and 4 are 10,303.01 and 10,406.04.

Compute the percent price change from year 3 to 4 as follows:

$\text{Percent price change}=\frac{10406.04-10303.01}{10303.01}\times 100$

$=0.00999\times 100\\=0.999\%\\\approx1\%$

The price of product B is increasing by 1% per year.

Thus, the product A recorded a greater percentage change in price over the previous year.

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