The cost, in thousands of dollars, of airing x television commercials during a sports event is given by C(x) = 20 + 4,000x + 0.03x². (a) Find the marginal cost function C'(x). HINT [See Example 1.] C'(x) = Use it to estimate how fast the cost is increasing when x = 4. thousand dollars per television commercial Compare this with the exact cost of airing the fifth commercial. The cost is going up at the rate of $ $ per television commercial. The exact cost of airing the fifth commercial is $ (b) Find the average cost function C, and evaluate C(4). HINT [See Example 2.] C(x)= C(4) = thousand dollars per television commercial What does the answer tell you? The average cost of airing the first four commercials is $ per commercial, . Thus, there is a difference of

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
The cost, in thousands of dollars, of airing \( x \) television commercials during a sports event is given by

\[ C(x) = 20 + 4.000x + 0.03x^2. \]

**(a)** Find the marginal cost function \( C'(x) \). HINT [See Example 1.1]

\[ C'(x) = \]

Use it to estimate how fast the cost is increasing when \( x = 4 \).

\[\_\_\_\_\_\_\_\_\_] thousand dollars per television commercial

Compare this with the exact cost of airing the fifth commercial.

The cost is going up at the rate of $[\_\_\_\_\_\_\_\_\_]$ per television commercial. The exact cost of airing the fifth commercial is $[\_\_\_\_\_\_\_\_\_]$. Thus, there is a difference of $[\_\_\_\_\_\_\_\_\_]$.

**(b)** Find the average cost function \(\overline{C}\), and evaluate \(\overline{C}(4)\). HINT [See Example 2.2]

\[\overline{C}(x) = [\_\_\_\_\_\_\_\_\_]\]

\[\overline{C}(4) = [\_\_\_\_\_\_\_\_\_] \] thousand dollars per television commercial

What does the answer tell you?

The average cost of airing the first four commercials is $[\_\_\_\_\_\_\_\_\_]$ per commercial.
Transcribed Image Text:The cost, in thousands of dollars, of airing \( x \) television commercials during a sports event is given by \[ C(x) = 20 + 4.000x + 0.03x^2. \] **(a)** Find the marginal cost function \( C'(x) \). HINT [See Example 1.1] \[ C'(x) = \] Use it to estimate how fast the cost is increasing when \( x = 4 \). \[\_\_\_\_\_\_\_\_\_] thousand dollars per television commercial Compare this with the exact cost of airing the fifth commercial. The cost is going up at the rate of $[\_\_\_\_\_\_\_\_\_]$ per television commercial. The exact cost of airing the fifth commercial is $[\_\_\_\_\_\_\_\_\_]$. Thus, there is a difference of $[\_\_\_\_\_\_\_\_\_]$. **(b)** Find the average cost function \(\overline{C}\), and evaluate \(\overline{C}(4)\). HINT [See Example 2.2] \[\overline{C}(x) = [\_\_\_\_\_\_\_\_\_]\] \[\overline{C}(4) = [\_\_\_\_\_\_\_\_\_] \] thousand dollars per television commercial What does the answer tell you? The average cost of airing the first four commercials is $[\_\_\_\_\_\_\_\_\_]$ per commercial.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 3 images

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman