Concept explainers
EXERCISES
Reminder Round all answers to two decimal places unless otherwise indicated.
Fixed and Variable Costs The fixed cost for a manufacturing company are the costs, such as rent or repayment of a startup loan, that the company must pay each month no matter how many items are produced. The variable cast is the cost of producing a single item. Assume that when a company produces
Identify the fixed costs and the variable cost in this equation.
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Chapter 5 Solutions
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
- Flood Control A river is 8 feet above its flood stage. The water is receding at a rate of 3 inches per hour. Write a mathematical model that shows the number of feet above flood stage after t hours. Assuming the water continually recedes at this rate, when will the river be 1 foot above its flood stage?arrow_forwardGrade Point Average In many universities students are given grade points for each credit unit according to the following scale: A 4 points B 3 points C 2 points D 1 point F 0 point For example, a grade of A in a 3-unit course earns 43=12 grade points and a grade of B in a 5-unit course earns 35=15 grade points. A students grade point average GPA for these two courses is the total number of grade points earned divided by the number of units; in this case the GPA is (12+15)8=3.375. a Find a formula for the GPA of a student who earns a grade of A in a units of course work, B in b units, C in c units, D in d units and F in f units. b Find the GPA of a student who has earned a grade of A in two 3-unit courses, B in one 4-unit courses and C in three 3-unit courses.arrow_forwardModel for demand function analysis 0 y=50-2.1p+0.81+2.5PS-.5PC+E OT.test 3 1.5 0.4 2.3 OF.test 2.1 R.square = 0.91 ☐Explain contents of this equation.arrow_forward
- Can you help with parts d, e, and f please? The Admission director for a college far from mart and town believes that an inverse relationship exists between a private college's average discount rate(determined by the average amount of scholarships students receive) and the annual yield (the percentage of admitted students who actually attend). The Director's independent variable is a private college's discount rate measured as a percentage, and the dependent variable is the college's annual yield measured as a percentage. The following results were obtained for a sample of 30 private colleges: x- Discount rate(percentage) - range: 35 to 72 percent y- Annual Yield(percentage) - range: 12 o 81 percent Σxi = 1612 Σyi = 898Σxiyi = 44,377Σxi2 = 89,790Σyi2 = 35,704a. Calculate the sample regression line's slope estimate. Interpret the sample regression line's slope estimate.b. Calculate the sample regression line's intercept estimate. Interpret the sample regression line's intercept…arrow_forwardUse the model given to answer the questions about the object or process being modeled. Arizonans use an average of 50 gal of water per person each day. The number of gallons W of water used by x Arizonans each day is modeled by W = 50x. (a) Make a table that gives the number of gallons of water used for each 1000-person change in population, from 0 to 5000. Population Water use (gal) 0 0 1000 2000 3000 4000 5000arrow_forwardA hamburger factory produces 40,000 hamburgers each week. The equipment used costs $8,000 and will remain productive for three years. The labor cost per year is $12,000. What is the productivity measure of "units of output per dollar of input" averaged over the three-year period? Assume that there are 52 weeks per year. Round your answer to one decimal place. Productivity: hamburgers/dollar We have the option of $10,000 equipment, with an operating life of four years. It would reduce labor costs to $9,500 per year. Should we consider purchasing this equipment (using productivity arguments alone)? Assume that there are 52 weeks per year. Round your answer for productivity to one decimal place. For the expensive machine, productivity is hamburgers/dollar input. Because the productivity of the expensive machine is , it would be a investment based on this single criterion.arrow_forward
- WP1: One end of a Bungee is tied to a bridge that is 120 feet above water. The other end of the Bungee is tied via padded ankle straps to a jumper's ankle. The jumper jumps and the Bungee cord extends like a rubber band and the jumper bounces up and down until coming to a halt. The Bungee cord elongation 150% of its length, meaning that the Bungee cord extended length Will be its original length plus 1.5 times of its original length. Knowing that that the jumper's height is not more 7 feet, what should the original length of the Bungee cord be to assure that the jumper under any condition stays at least 10 feet above water? Solution: Let consider the following bridge of 120 height above water.arrow_forwardChoose the correct answer Choose the correct answer to compute the multifactor productivity for an eight-hour day in which the usable output was 300 units, produced by three workers who used 600 pounds of materials. Workers have an hourly wage of $20, and material cost is S1 per pound. Overhead is 1.5 times labor cost. 0.167 units per dollar 0.212 units per dollar 0.324 units per dollar 0.441 units per dollararrow_forwardNumber 21 pleasearrow_forward
- The demand equation for the BWS Bluetooth wirelearrow_forwardIt costs $30 a day to rent a dump truck plus $0.95 per mile. A. Is this an example of a linear or exponential model? choose your answer... B. Choose the model that fits the information. choose your answer... modelarrow_forwardPlease don't copyarrow_forward
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- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill