3.1 Matrices are fundamental data structures used in various computing applications for organizing and processing data efficiently. Work with the given dataset and demonstrate the use of matrices to represent the ordered data. Dataset: Consider a dataset containing the monthly sales and expenses of a small business over a year. This dataset consists of 12 months, and each month's sales revenue and expenses are recorded. Month Sales ($ thousands) Expenses ($ thousands) January 50 30 February 55 35 March 60 40 April 70 45 May 80 50 June 90 55 July 100 60 August 110 65 September 120 70 October 130 75 November 140 80 December 150 85 i) Create a matrix M to represent this dataset, where each row represents a month, and each column represents a specific attribute (e.g., month number, total sales, profit, expenses, etc.). Populate the matrix M with the relevant data from the dataset. Perform matrix operations on M to: ii) 111) a) calculate the Total Sales for each quarter. b) calculate the Monthly Variations To calculate the monthly variations in profit, you may subtract the profit for each month from the profit of the previous month. The result is a matrix showing the change in profit from one month to the next. c) calculate the total annual profit To calculate the total annual profit, you may sum the monthly profit values using matrix multiplication. This operation calculates the dot product of the monthly profit matrix and a matrix of ones to obtain the total annual profit.
3.1 Matrices are fundamental data structures used in various computing applications for organizing and processing data efficiently. Work with the given dataset and demonstrate the use of matrices to represent the ordered data. Dataset: Consider a dataset containing the monthly sales and expenses of a small business over a year. This dataset consists of 12 months, and each month's sales revenue and expenses are recorded. Month Sales ($ thousands) Expenses ($ thousands) January 50 30 February 55 35 March 60 40 April 70 45 May 80 50 June 90 55 July 100 60 August 110 65 September 120 70 October 130 75 November 140 80 December 150 85 i) Create a matrix M to represent this dataset, where each row represents a month, and each column represents a specific attribute (e.g., month number, total sales, profit, expenses, etc.). Populate the matrix M with the relevant data from the dataset. Perform matrix operations on M to: ii) 111) a) calculate the Total Sales for each quarter. b) calculate the Monthly Variations To calculate the monthly variations in profit, you may subtract the profit for each month from the profit of the previous month. The result is a matrix showing the change in profit from one month to the next. c) calculate the total annual profit To calculate the total annual profit, you may sum the monthly profit values using matrix multiplication. This operation calculates the dot product of the monthly profit matrix and a matrix of ones to obtain the total annual profit.
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter6: Linear Systems
Section6.3: Matrix Algebra
Problem 65E
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