I am stuck after this step. Can anyone explain what are possible ranges for the value of x?how to proceed further
At this point you have to study the sign of x
The first is +ve if x>0
The second in +ve is x^2-1>0
so if x>1 or x<-1
Take a look at the picture. Once you have the intervals you intersect them and find the overall sign.
You want the equation to be <0 so you take the -ve intervals => x<-1 and 0<x<1
Hope it's clear, let me know
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