The derivative applies to any quantity that changes with respect to an independent variable, not just position. Common contexts include volume of fluid in a tank, temperature of an object, population size, and cost or revenue in economics. The key skill is identifying the function, its input, and the correct units for the derivative.
- dV/dt: Rate of change of volume with respect to time; units are volume units per time unit.
- dT/dt: Rate of change of temperature with respect to time; units are degrees per time unit.
- Marginal cost: The derivative of a cost function C(x) with respect to quantity x; approximates the cost of producing one additional item.
- Interpreting sign in context: A negative derivative means the quantity is decreasing; always connect the sign to the real-world meaning.
A population P(t) is modeled by a differentiable function. If P'(3) = 200, write a complete interpretation including units, assuming t is in years and P is in thousands of people.