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- Q.2 Mukul has earned as an average of 4,200 dollars for the first eleven months of the year. If he justifies his staying in the US on the basis of his ability to earn at least 5000 dollars per month for the entire year, then how much should he earn (in dollars) in the last month to achieve his required average for the whole year?2. Many municipalities offer a variety of fare options for public transportation. This allows high use travelers a choice to pay a lower fare as a benefit of being a high user. The Transit Co. of Blue City, TX has three separate monthly bus fare options to choose from. The first is a standard “per ride" fare of $1.25 per ride. The second allows the rider to purchase a discount card. The cardholder pays $21 at the start of the month plus a fee of S0.50 per ride. Option 3 is a flat fee option where the rider pays $40 for thee month and may ride any bus at no additional cost during the month. Define the variable x to be the number of rides you take each month. Express each option as a function of x. Graph all three functions on the same set of axes. What is the break even number of rides between the options? If you only take 10 rides a month what option should you choose? If you take 40 rides a month what option should you choose? Watch the video posted in the Capstone #1 area involving…2
- Indicate which of the following variables are discrete. 1)Number of persons in a family. 2) Monthly TV cable bills. 3)Lottery revenues of states. 4)Number of wheels of a car. 5) Monthly spendings of a family.3 Upon admission to college, students often must take placement tests in English and mathematics. Students who "fail," for example, the mathematics placement test must retake high school level mathematics (called remedial mathematics) before being able to take the mathematics required to graduate from college. Sometimes students fail the mathematics placement test because they did not bother to review basic ideas of algebra and geometry before taking the test. These students are placed into remedial mathematics classes even though they are capable of doing college level mathematics. The hypothetical table below shows the results for a random sample of 100 entering freshmen who did not bother to review for the placement test. Need Remedial Math (Have Condition) Do Not Need Remedial Math Total Fail Placement Test (Test Positive for Remedial Math) 25 26 51 Pass Placement Test (Test Negative for Remedial Math) 11 38 49 Use this table in completing the following questions and tasks. Total…8) Send With Us is a company that ships large packages overnight to cities all over the country. Overnight delivery is guaranteed. They charge for delivery depending on the weight of the package according to the following price list: $30 per pound for packages weighing up to and including 10 pounds. $25 per pound for packages weighing more than 10 pounds and up to and including 20 pounds $20 per pound for packages weighing more than 20 pounds and up to and including 30 pounds. $15 per pound for packages weighing more than 30 pounds. a) Sketch a graph of the function that describes the cost of all possible shipping charges. b) If the package you want to ship weighs 15 pounds and there is an 8% tax on all shipping charges, what will be your total cost?
- Sharp Outfits is trying to decide whether to ship some customer orders now via UPS or wait until after the threat of another UPS strike is over. If Sharp Outfits decides to ship the requested merchandise now andthe UPS strike takes place, the company will incur $60,000 in delay and shipping costs. If Sharp Outfits decides to ship the customer orders via UPS and no strike occurs, the company will incur $4000 in ship-ping costs. If Sharp Outfits decides to postpone shipping its customer orders via UPS, the company will incur $10,000 in delay costs regardless of whether UPS goes on strike. Let p represent the probabilitythat UPS will go on strike and impact Sharp Outfits’s shipments.a. For which values of p, if any, does Sharp Outfits minimize its expected total cost by choosing to postpone shipping its customer orders via UPS? b. Suppose now that, at a cost of $1000, Sharp Outfits can purchase information regarding the likelihood of a UPS strike in the near future. Based on similar…32. A hardware company sells a lot of low-cost, highvolume products. For one such product, it is equallylikely that annual unit sales will be low or high. Ifsales are low (30,000), the company can sell theproduct for $20 per unit. If sales are high (70,000),a competitor will enter and the company will be ableto sell the product for only $15 per unit. The variablecost per unit has a 20% chance of being $10, a 60%chance of being $11, and a 20% chance of being $12.Annual fixed costs are $20,000.a. Use simulation to estimate the company’s expectedannual profit.b. Find a 95% interval for the company’s annualprofit, that is, an interval such that about 95% ofthe actual profits are inside it.c. Now suppose that annual unit sales, variable cost,and unit price are equal to their respective expectedvalues—that is, there is no uncertainty. Determinethe company’s annual profit for this scenario.d. Can you conclude from the results in parts a and cthat the expected profit from a simulation is…