Final answer:
To approximate ƒ′(1), find the values of f(1) and f(1.01) and calculate the average rate of change.
Step-by-step explanation:
To approximate ƒ′(1), we need to find the values of f(1) and f(1.01) and use them to calculate the average rate of change.
Let's say the given function is f(x).
Step 1: Find f(1) by substituting x = 1 into the function.
Step 2: Find f(1.01) by substituting x = 1.01 into the function.
Step 3: Use the values of f(1) and f(1.01) to calculate the average rate of change (ƒ′(1)) using the formula: ƒ′(1) ≈ (f(1.01) - f(1))/(1.01 - 1).