(a) Explanation Given information: The following table gives sales revenue and costs and expenses for Continental Divide Mining for various years. Sales Revenue Costs and Expenses Year (millions) (millions) 2010 $ 2.6155 $ 2.4105 2011 2.7474 2.4412 2012 2.934 2.6378 2013 3.3131 2.9447 2014 3.9769 3.5344 2015 4.5494 3.8171 2016 4.8949 4.2587 2017 5.1686 4.8769 2018 4.9593 4.9088 2019 5.0913 4.6771 2020 4.7489 4.9025 The data can be modeled by the equation R ( t ) = − 0.031 t 2 + 0.776 t + 0.179 C ( t ) = − 0.012 t 2 + 0.492 t + 0.725 where t is the number of years past 2007 (b) To determine The year in which maximum profit occurs. (c) To determine To graph: The function R ( t ) and the data points from the table. (d) To determine Whether the function project increasing or decreasing profits from 2015 to 2020 and whether the data support this trend.

12th Edition

ISBN: 8220106720264

Author: Reynolds

Publisher: Cengage Learning US

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Question

Chapter 2.3, Problem 21E

(a)

To determine

The profit function by using R(t)=−0.031t2+0.776t+0.179 and

C(t)=−0.012t2+0.492t+0.725.

(b)

To determine

The year in which maximum profit occurs.

(c)

To determine

To graph: The function R(t) and the data points from the table.

(d)

To determine

Whether the function project increasing or decreasing profits from 2015 to 2020 and whether the data support this trend.

Expert Solution & Answer

Chapter 2 Solutions

EBK MATHEMATICAL APPLICATIONS FOR THE M

Ch. 2.1 - The factoring method for solving a quadratic...Ch. 2.1 - Solve the following equations by factoring. Ch. 2.1 - Prob. 3CP Ch. 2.1 - Prob. 4CP Ch. 2.1 - Prob. 1E Ch. 2.1 - Prob. 2E Ch. 2.1 - Prob. 3E Ch. 2.1 - Prob. 4E Ch. 2.1 - In Problems 5-14, solve each question by...Ch. 2.1 - Prob. 6E

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The profit function by using R ( t ) = − 0.031 t 2 + 0.776 t + 0.179 and C ( t ) = − 0.012 t 2 + 0.492 t + 0.725 .

Solution Summary: The following table gives sales revenue and costs and expenses for Continental Divide Mining for various years.

Videos

The profit function by using R(t)=−0.031t2+0.776t+0.179 and

C(t)=−0.012t2+0.492t+0.725.

The year in which maximum profit occurs.

To graph: The function R(t) and the data points from the table.

Whether the function project increasing or decreasing profits from 2015 to 2020 and whether the data support this trend.

Chapter 2 Solutions

The profit function by using R ( t ) = − 0.031 t 2 + 0.776 t + 0.179 and C ( t ) = − 0.012 t 2 + 0.492 t + 0.725 .

Solution Summary: The following table gives sales revenue and costs and expenses for Continental Divide Mining for various years.

Videos

The profit function by using R(t)=−0.031t2+0.776t+0.179 and C(t)=−0.012t2+0.492t+0.725.

The year in which maximum profit occurs.

To graph: The function R(t) and the data points from the table.

Whether the function project increasing or decreasing profits from 2015 to 2020 and whether the data support this trend.

Chapter 2 Solutions

The profit function by using R(t)=−0.031t2+0.776t+0.179 and

C(t)=−0.012t2+0.492t+0.725.