Sales of a company is $243 million in 2013, and it increases
Question and Solution
Sales of a company is $243 million in 2013, and it increases to $250 million in 2014. a. Compute the percentage increase
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Sales of a company is $243 million in 2013, and it increases to $250 million in 2014. a. Compute the percentage increase in sales, using the usual formula 100 * (Sales2014 - Sales2013) Sales2013 . Compare this value to the approximation. 100 * 3ln(Sales2014) - ln(Sales2013)4. b. Repeat (a), assuming that Sales2014 = 255, Sales2014 = 260, and Sales2014 = 265. c. How good is the approximation when the change is small? Does the quality of the approximation deteriorate as the percentage change increases?
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