A commercial vegetable and fruit grower carefully observes the relationship between the amount of fertilizer used on a certain variety of pumpkin and the revenue made from sales of the esulting pumpkin crop, recorded in the following table Amount of Fertilizer (pounds/acre) Revenue earned (dollars/acre) 250 500 | 750 | 1000 1250 1500 1750 2000 96 145 172 185 192 196 198 199 The fertilizer costs $0.14 per pound. Use trial and error on your calculator to fit a function of the form r=k(1-bx)r=k(1-bx) where k is the estimate for the maximum amount of revenue and 0
A commercial vegetable and fruit grower carefully observes the relationship between the amount of fertilizer used on a certain variety of pumpkin and the revenue made from sales of the esulting pumpkin crop, recorded in the following table Amount of Fertilizer (pounds/acre) Revenue earned (dollars/acre) 250 500 | 750 | 1000 1250 1500 1750 2000 96 145 172 185 192 196 198 199 The fertilizer costs $0.14 per pound. Use trial and error on your calculator to fit a function of the form r=k(1-bx)r=k(1-bx) where k is the estimate for the maximum amount of revenue and 0
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:This case study is about fitting data to various exponential-type functions. (Chapter 5)
A commercial vegetable and fruit grower carefully observes the relationship between the amount
of fertilizer used on a certain variety of pumpkin and the revenue made from sales of the
resulting pumpkin crop, recorded in the following table
Amount of Fertilizer (pounds/acre)
250
500
750 | 1000
1250
1500
1750
2000
Revenue earned (dollars/acre)
96
145 | 172
185
192
196
198
199
The fertilizer costs $0.14 per pound.
Use trial and error on your calculator to fit a function of the
form r=k(1-bx)r=k(1-bx) where k is the estimate for the maximum amount of
revenue and 0<b<10<b<1
Choose the best model for revenue and then write a total cost function for
fertilizer. Use a graph on your calculator to find where cost equals revenue.
Write a profit function and graph it to advise the grower on the most profitable
amount of fertilizer to use.
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