7) The revenue and costs (in millions of dollars) for Ford Motor Company for the years 2004-2012 can be estimated by R(x) 551.x3-12,60lx2 +82,828.x+7002 885.5x3 -21,438x2 +154,283x -166,074 C(x) where x4 corresponds to the year 2004. a. Graph R(x) and C(x) on the same set of axes. Use [0, 12] by [0, 200,000] and modify the scales as needed 40 20T 5 5 10 x -10 -20+ -40t b. Did costs ever exceed revenues? Explain your reasoning c. Find the profit function, P(x)= R(x)-C(x) d. Graph P(x) on [0, 12] by [-20,000, 20,000] and modify the scales as needed 20 T+ -10 10 According to the profit model, P(x), in what years was Ford Motor Company profitable? e.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
icon
Related questions
Question
7) The revenue and costs (in millions of dollars) for Ford Motor Company for the years 2004-2012 can be
estimated by
R(x) 551.x3-12,60lx2 +82,828.x+7002
885.5x3 -21,438x2 +154,283x -166,074
C(x)
where x4 corresponds to the year 2004.
a. Graph R(x) and C(x) on the same set of axes. Use [0, 12] by [0, 200,000] and modify the scales as
needed
40
20T
5
5
10 x
-10
-20+
-40t
b. Did costs ever exceed revenues? Explain your reasoning
Transcribed Image Text:7) The revenue and costs (in millions of dollars) for Ford Motor Company for the years 2004-2012 can be estimated by R(x) 551.x3-12,60lx2 +82,828.x+7002 885.5x3 -21,438x2 +154,283x -166,074 C(x) where x4 corresponds to the year 2004. a. Graph R(x) and C(x) on the same set of axes. Use [0, 12] by [0, 200,000] and modify the scales as needed 40 20T 5 5 10 x -10 -20+ -40t b. Did costs ever exceed revenues? Explain your reasoning
c. Find the profit function, P(x)= R(x)-C(x)
d. Graph P(x) on [0, 12] by [-20,000, 20,000] and modify the scales as needed
20
T+
-10
10
According to the profit model, P(x), in what years was Ford Motor Company profitable?
e.
Transcribed Image Text:c. Find the profit function, P(x)= R(x)-C(x) d. Graph P(x) on [0, 12] by [-20,000, 20,000] and modify the scales as needed 20 T+ -10 10 According to the profit model, P(x), in what years was Ford Motor Company profitable? e.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 6 steps with 3 images

Blurred answer
Similar questions
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Basic Technical Mathematics
Basic Technical Mathematics
Advanced Math
ISBN:
9780134437705
Author:
Washington
Publisher:
PEARSON
Topology
Topology
Advanced Math
ISBN:
9780134689517
Author:
Munkres, James R.
Publisher:
Pearson,