Numerical analysis and numerical methods are also applicable in field of finance and marketing. Revenues, costs, and profits can be represented as equations. An example, it costs a firm D(m) dollars to produce m grams per day of a certain chemical, where D(m) = 1000 + 2m + 3m²/3 For its revenue, the firm can sell any amount of the chemical at $4 a gram. Find the break-even point (the point when revenue is equal to cost) of the firm, that is, how much it should produce per day in order to have neither a profit nor a loss. Find the true value and give the answer to the nearest gram by using the a) False-position Method and iterate until the approximate error falls below 0.05% or the number of iterations exceeds 5. Take m to range from 500 to 1000. b) Secant Method and iterate until the approximate error is at 0% or the number of iterations exceeds 10. Take m to range from 400 to 8000.

Q: A company operates two plants which manufacture the same item and whose total cost functions are C₁…

A: A cost function is a critical parameter that defines how well a machine learning model performs on a…

Q: You find that when you order 90 magnets, the average cost per magnet is $2.00 and when you order 140…

A: Topic - Linear functions  We are given that  when you order 90 magnets, the average cost per magnet…

Q: Give an example of using linear regression to solve a business problem

A: One of the most important use case of linear regression is in predictive analytics. Using the…

Q: If company A manufactures t-shirts and sells them to retailers for US$9.80 each. It has fixed costs…

A: Hey, since there are multiple sub-parts posted, we will answer the first 3 sub-parts. If you want…

Q: Suppose a company is willing to sale some product at certain price. if the supplied quantity S is…

A:

Q: Suppose that for a company manufacturing calculators, the cost, revenue, and profit equations are…

A: