Question

Employer labor cost. Based on data from 1995 to 1999, the average annual earnings in the rubber and plastics manufacturing industry may be modeled by E(T)=1196 t+29,825 dollars per employee, and the average number of employees in the rubber and plastics manufacturing industry may be modeled by N(t)=-2.917 t³+15.29 t²-10.73 t thousand employees, where t is the number of years since 1995. In 1999, at what rate was employer spending on rubber and plastics manufacturing industry employee earnings increasing? Hint you need (E(t) N(t))'

Answer 1

Answer 2

Based on data from 1995 to 1999, the average annual earnings of an employee in the lumber and wood products industry can be modeled by 

s(n) = −0.7685n² + 1295n − 516,596 dollars

 where n is the number of employees in thousands.