Solve the Problem $$f ( x ) = 0.0039 x ^ { 2 } - 0.47 x + 36.46$$

question 23

Multiple Choice

Solve the problem.
-The quadratic function models the median, or average, age, y, at which U.S. men $$f ( x ) = 0.0039 x ^ { 2 } - 0.47 x + 36.46$$ were first married x years after 1900. In which year was this average age at a minimum? (Round to the nearest year.) What was the average age at first marriage for that year? (Round to the nearest tenth.)

• A) 1936, 50.6 years old
• B) 1960, 50.6 years old
• C) 1953, 36 years old
• D) 1960, 22.3 years old

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Definitions:

Adverse Selection

A situation in markets where buyers or sellers have information that other participants do not have, leading to an inefficient transaction outcome.

Asymmetric Information

A situation in which one party in a transaction has more or superior information compared to another.

Lemons

In economics, refers to a lower-quality product that is difficult to distinguish from higher-quality products before purchase, notably used in a market context where there is information asymmetry between buyers and sellers.

Adverse Selection

A situation where asymmetric information results in high-risk individuals being more likely to participate in a market, leading to an imbalance in the market.