A linear cost function that represents the cost C ( x ) to produce x necklaces during a one-month period. The rent for studio, Internet service, and phone come to $ 640 p e r m o n t h . Estimated cost is $ 3.50 to make one necklace. Cost at art shows and online is $ 25 each.
A linear cost function that represents the cost C ( x ) to produce x necklaces during a one-month period. The rent for studio, Internet service, and phone come to $ 640 p e r m o n t h . Estimated cost is $ 3.50 to make one necklace. Cost at art shows and online is $ 25 each.
Solution Summary: The author calculates a linear cost function to represent the revenue R(x) for selling x necklaces.
A linear cost function that represents the cost C(x) to produce x necklaces during a one-month period. The rent for studio, Internet service, and phone come to $640permonth. Estimated cost is $3.50 to make one necklace. Cost at art shows and online is $25 each.
b)
To determine
To calculate:
Linear revenue function to represent the revenue R(x) for selling x necklaces. The rent for studio, Internet service, and phone come to $640permonth. Estimated cost is $3.50 to make one necklace. Cost at art shows and online is $25 each.
c)
To determine
To calculate:
(R−C)(x) and interpret its meaning in the context of this problem, where function is R(x)=25x and C(x)=3.5x+640
d)
To determine
To calculate:
The profit if the artist sells 212 necklaces during a one-month period, where function is (R−C)X=21.5x−640
How long will it take you to double your money if you invest it at a rate
of 8% compounded annually?
One hundred dollars is invested at 7.2% interest compounded annually.
Determine how much the investment is worth after:
a. I year
b. 5 years
c. 10 years
d. 20 years
e. Use your answers to parts (a)-(d) to estimate the doubling time for the
investment.
6) A farmer has 60 acres on which to plant oats or corn. Each acre of oats requires 100 lbs of fertilizer and 1 hour
of labor. Each acre of corn requires 50 lbs of fertilizer and 2 hours of labor. The farmer has 5000 lbs of
fertilizer and 100 hours available for labor. If the profit is $60 from each acre of oats and $100 from each acre
of corn, what planting combination will produce the greatest total profit?
a) Fill in the following chart to help organize the information given in the problem:
Oats
Labor
Fertilizer
Land
Profit
b) Write down the question of interest.
Corn
Available
c) Define variables to answer the question of interest. Call these x and y.
d) Write the objective function to answer the question of interest.
e) List any constraints given in the problem.
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