Answered: Use the graph above for question one…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A hotel is monitoring how the number of increases in price affects the weekly profit. The table models the weekly profit, y, after a given number of price increases, x. Which type of models would best fit the data?
Student Loans Data for selected years from 2011and projected to 2023 can be used to show that thebalance of federal direct student loans y, in billions ofdollars, is related to the number of years after 2010,x, by the function y = 130.7x + 699.7.a. Graph the function for x-values corresponding2010 to 2025.b. Find the value of y when x is 13.c. What does this function predict the balance offederal direct student loans will be in 2029?(Source: U.S. Office of Management and Budget)
The marketing department of a company estimates that the demand for a product is given by p = 100 - 0.0001x, where p is the price per unit and x is the number of units. The cost C of producing x units is given by C = 310,000 + 25x and the profit P for producing and selling x units is given by P = R - C = xp – C. Sketch the graph of the profit function. P FA 15 000 000 15 000 000 10 000 000 10 000 000 5 000 000 5000 000 1 2 3 4 5 7 8 9 1 2 3 4 5 6 8 9 1 = 100,000 1= 100,000 MacBook DII 888 F9 F8 F7 F4 F5 F3 F1 * & $ % @ # 8 9 2 3 4 T Y Q W K G H .. . - < (O

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Use the graph above for question one assuming it represents the cost of a perfectly competitive firm where the market price is eight dollars D. calculate the total profit and E. will this firm shut down or continue in the short run explain how you know