In 1997, researchers at Texas A&M University estimated the operating costs of cotton gin plants of varioussizes. A quadratic model of cost (in thousands of dollars) for the largest plants was found to be very similarto:C(q) = 0.02q² +24.4g +352where q is the annual quantity of bales (in thousands) produced by the plant. Revenue was estimated at $63 per bale of cotton.Find the following (but be cautious and play close attention to the units):A) The Marginal Cost function:C'(q)=B) The Marginal Revenue function:R'(q)=C) The Marginal Profit function:P'(q)D) The Marginal Profits for q = 482 thousand units:P'(482) =(see Part E for units)Which of the following represent the proper units for the answer to Part D?O thousands of dollars per unitO unitsdollarsO thousands of units per dollarO units perdollar

Answered: Image /qna-images/answer/452cc16c-0c0f-43b3-ba19-457ea0ef7dce.jpg

Answered: In 1997, researchers at Texas A&M…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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(Automobile Production). Table 1 shows the retail market share of passenger cars from Ford Motor Company as a percentage of the U.S. Market. Table 1: Ford Motor Company's Market Share Year Market Share 1975 23.6% 1980 17.2% 1985 18.8% 1990 20.0% 1995 20.7% A.What quadratic equation, M(x), best fits the data, where x = 0 corresponds to 1975? (Use 4 decimal places in your answer.)M(x) = B. Use the equation to estimate Ford's share of the market (as a percentage) in 2000. (Use 4 decimal places in your answer.)In the year 2000, it is estimated Ford's share of the market was______%
A retail store has determined that the daily profit for the store is related to the number of salespersons working that day. If P(x) = -25x? + 300x, where x %3D is the number of salespeople and P is the profit, how many salespeople will maximize profit?
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