Answered: ROW (BASIS) X1 X2 X3 X4 SOL 1 2 10 2 X2…

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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A car rental agency rents 300 cars per day at a rate of $55 per day. For each $1 increase in the per-day rate, 3 fewer cars are rented. They want to know what price they should rent at to maximize their revenue. Help them get started by setting up the revenue equation. You do not need to find the optimal price, just set up the revenue equation. Use x as your variable, but in your work be sure to define what a represents. Revenue =
If 10 people choose, at random, a letter from the English alphabet of 26 letters, what is the probability that each will choose a different letter?
Giant purchases bone-in short ribs for $3/lb. and boneless short ribs for $4/lb. Let p denote the price at which they sell bone-in short ribs and q the price at which they sell boneless short ribs. Suppose 2000 -150p +100q pounds of bone- in short rib are sold and 1000 + 180p -120q pounds of boneless short rib are sold. Determine the prices that Giant should set to maximize profit.
In the market for a good, the equilibrium point occurs when 6095 units are producedat a price of $12.50. The producer of the good will supply no units at $1 and theconsumers will demand no units if the price is $25. Find the supply equation Qs(p)and demand equation Qd(p) if they are both linear.
Linda is renting a space for a family reunion. The total cost of the rental space where p number of people attend is modeled by the linear function C(p) = 12p + 300. Linda wants to spend no more than $1500 for the party. Which constraint applies to the function so it realistically models the scenario? ?
A collector of antique clocks sold at auction believes that the price received for the clocks may be modeled as a linear function of the age of the clocks and the number of bidders at the auction. After a preliminary study and collection of 32 observations, the collector came up with the following second-order model: y = BO+B₁x₁+B₂x₂ + ß3 x1x2 +B4x² +ɛ, where y: price of a clock; x₁: age of a clock; x2: the number of bidders. Considering the output below and by setting a = 0.05, answer the following questions. The regression equation is Price = 262 +2.26 Age + 14.2 Bidder + 1.13 AgeBid 4.20 Bid^2 Predictor Constant -261.7 2.260 14.21 Age Bidder AgeBid Bid^2 S = 84.512 Coef SE Coef 1.1301 -4.196 Analysis of Variance Source 404.4 2.052 R-Sq= 96.0% Variable Age Bidder AgeBid Bid^2 60.83 0.23 5.17 0.000 0.219 1.344 -3.12 0.004 R-Sq (adj) DF Regression 4 4606950 Residual Error 27 192840 Total 31 4799790 SS T P -0.65 0.523 1.10 0.280 0.817 a. Is the model useful as a whole? Apply an…
The company sells all the electronic devices it makes. Its profit is $65 for every laptop sold and $45 for every tablet sold. What is the objective function for maximizing profit?
A fabric wholesaler, The Dynamic has fixed the cost of $3,200 and a production cost of $12 for each bundle. The fabrics sells for $54 per bundle. (a) Find the cost function, C. (b) Find the profit function, P. (c) Compute the profit (or loss), results of selling 200 bundles. (d) Find the number of bundles they need to sell if they wish to make a profit of $55,500.
The Rainwater Brewery produces beer. The annual fixed cost is $150,000, and the variable cost per barrel is $15. Price is related to demand, according to the following linear equation: v=75000-1200p. The objective function is Z= [ Select ] + [Select ] + [Select ] The optimal solution = [ Select]

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