An insurance company typically offers discounts for purchasing larger amounts of life insurance coverage. For a female under 30 years of age whoqualifies for the lowest premiums, the annual cost (in dollars) of a life insurance policy can be approximated by C (x) = 3vwhere r is the amount of life insurance coverage (in thousands of dollars).Find and interpret:(Write complete sentences - don't use the word marginal.)(a) C (1500)(b) C" (1500)

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Answered: An insurance company typically offers…

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

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P₁ = 2,754 0.55D; 2.52C; +252G; + 576PE; + 1,750F; (0.12) (1.1) (135) (200) (450) P₁ = Annual employee health insurance contribution, in real $ D₁ = Annual plan deductible, in real $ C₁ = Copayment amount for outpatient care visit, in real $ G₁ = Gender of employee (G₂ = 1 if female) PE₁ = Dummy for pre-existing condition (PE; = 1 if yes) F₁ = Dummy for family plan (F; = 1 if yes) Use the information above to answer the following question: Interpret the meaning of the estimated coefficient on D₂ where: O The coefficient tells us that increasing the plan's deductible by $1 leads to a reduction in premiums of $55, all else held constant. O The coefficient tells us that increasing the plan's deductible by $1 leads to a reduction in premiums of $2.52, all else held constant. The coefficient tells us that increasing the plan's deductible by $1 leads to a reduction in premiums of $0.55, all else held constant. O The coefficient tells us that increasing the plan's deductible by $1 leads to a…
The yearly profit, "P" of your store can be estimated by the function P(n)=15n-45,000 where "n" is the number of items you sell per year, and P is measured in dollars. A) what is your estimated profit if you sell 5,280 items this year? B) Estimate the number of items you must sell to make $150,000 profit? C) Estimate the number of items you must sell to break even ($0 profit)
The population of a town is given by the equation P = 3000 (20.1t), where t is the time in years from 2000. Find the population in the following years. (a) 2010 (b) 2030 2040
The short-term demand for crude oil in Country A in 2008 can be approximated by -0.06 q=f(p) 2,308,419p where p represents the price of crude oil in dollars per barrel and q represents the per capita consumption of crude oil. Calculate and interpret the elasticity of demand when the price is $85 per barrel. The elasticity of demand for oil is. (Type an integer or a decimal.) What is the elasticity of demand for oil when the the price is $85 per barrel? (Type an integer or a decimal.) Interpret the elasticity of demand. Choose the correct answer below. OA. The demand is elastic, so as price increases, revenue decreases. OB. The demand is elastic, so as price increases, revenue increases. OC. The demand is inelastic, so as price increases, revenue decreases. O D. The demand is inelastic, so as price increases, revenue increases.
A company sales representative sold $500,000 in her 6th year of sales. The economy stumbled for a few years and her sales decreased at a rate of 8% each year as a result. What were the rep’s sales during her 9th year at the company? f(t)= $
The profit from selling s number of t- shirts is described by the following function: p(s) = 8s - 500 Find p(70). What does this mean in words?

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