4) Numerical analysis and numerical methods are also applicable in field of finance andmarketing. Revenues, costs, and profits can be represented as equations. Anexample, it costs a firm D(m) dollars to produce m grams per day of a certainchemical, whereD(m) = 1000 + 2m + 3m?/3For its revenue, the firm can sell any amount of the chemical at $4 a gram. Find thebreak-even point (the point when revenue is equal to cost) of the firm, that is, howmuch it should produce per day in order to have neither a profit nor a loss. Find thetrue value and give the answer to the nearest gram by using thea) False-position Method and iterate until the approximate error falls below0.05% or the number of iterations exceeds 5. Take m to range from 500 to1000.b) Secant Method and iterate until the approximate error is at 0% or the numberof iterations exceeds 10. Take m to range from 400 to 8000.

At break even Total cost = Total revenue

Answered: Numerical analysis and numerical…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Similar questions

Suppose that for a company manufacturing calculators, the cost, revenue, and profit equations are given by x² C = 90,000 + 20x, R=200x - A) Costs are increasing at the rate of $ (Simplify your answer.) where the production output in 1 week is x calculators. If production is increasing at a rate of 400 calculators per week when production output is 5,000 calculators. Find the rate of increase (decrease) in cost, revenue, and profit. B) Revenue is (Simplify your answer. C) Profits are (Simplify your answer.) at the rate of $ 20 at the rate of $ P=R-C per week at this production level. per week at this production level. per week at this production level.
For a certain company, the cost for producing a items is 40x + 300 and the revenue for selling x items is 80x – 0.5x². The profit that the company makes is how much it takes in (revenue) minus how much it spends (cost). In economic models, one typically assumes that a company wants to maximize its profit, or at least wants to make a profit! Part a: Set up an expression for the profit from producing and selling x items. We assume that the company sells all of the items that it produces. (Hint: it is a quadratic polynomial.) Part b: Find two values of that will create a profit of $50. The field below accepts a list of numbers or formulas separated by semicolons (e.g. 2; 4; 6 or x + 1; x – 1). The order of the list does not matter. To enter va , type sqrt(a).
Social networking and video-sharing sites often include rich media and display advertising placed around user- generated content. Suppose that, for a particular social networking company, the annual revenue R, in millions of dollars, from rich media advertisements for the five years from the beginning of 2015 through the end of 2019 can be approximated by the model $ R(x) = x¹ + 11x³ - 39x² + 45x, where a is the number of years from the beginning of 2015. What was the total revenue for this company in the five-year period? Round to 2 decimal places. million -
Bathay flour company can sell organic flour for p=1000-3x dollars per kg when x kg are produced and sold, and the total cost of production consist of a fixed overhead of 66,500 dollars plus 20 dollars per kg. Plant capacity limits production to no more than 200kg. How many kg flour must bathay company sell to break even?
An electronics company is planning to manufacture a new line of high-end noise reduction ear buds. Fixed costs will be $123,000 and it will cost $13 to produce each pair of ear buds. The ear buds will sell for $43 a pair. Using the equations for cost C and revenue R as given below where x represents the units of product, find the break-even point for producing the new ear buds. C(x)=fixed cost+(cost per unit produced)•x R(x)=(price per unit sold)•x What is the break-even point?

Recommended textbooks for you

Advanced Engineering Mathematics

Advanced Math

ISBN:

9780470458365

Author:

Erwin Kreyszig

Publisher:

Wiley, John & Sons, Incorporated

Numerical Methods for Engineers

Advanced Math

ISBN:

9780073397924

Author:

Steven C. Chapra Dr., Raymond P. Canale

Publisher:

McGraw-Hill Education

Introductory Mathematics for Engineering Applicat…

Advanced Math

ISBN:

9781118141809

Author:

Nathan Klingbeil

Publisher:

WILEY

Advanced Engineering Mathematics

Advanced Math

ISBN:

9780470458365

Author:

Erwin Kreyszig

Publisher:

Wiley, John & Sons, Incorporated

Numerical Methods for Engineers

Advanced Math

ISBN:

9780073397924

Author:

Steven C. Chapra Dr., Raymond P. Canale

Publisher:

McGraw-Hill Education

Introductory Mathematics for Engineering Applicat…

Advanced Math

ISBN:

9781118141809

Author:

Nathan Klingbeil

Publisher:

WILEY

Mathematics For Machine Technology

Advanced Math

ISBN:

9781337798310

Author:

Peterson, John.

Publisher:

Cengage Learning,

Basic Technical Mathematics

Advanced Math

ISBN:

9780134437705

Author:

Washington

Publisher:

PEARSON

Topology

Advanced Math

ISBN:

9780134689517

Author:

Munkres, James R.

Publisher:

Pearson,

SEE MORE TEXTBOOKS