Cost function. A small manufacturing company produces two models of a surfboard: a standard model and a competition model. If the standard model is produced at a variable cost of $210 each and the competition model at a variable cost of $300 each, and if the total fixed costs per month are $6,000. then the monthly cost function is given by C ( x , y ) = 6 , 600 + 210 x + 300 y where x and y are the numbers of standard and competition models produced per month, respectively. Find C (20, 10), C (50, 5), and C (30, 30).
Cost function. A small manufacturing company produces two models of a surfboard: a standard model and a competition model. If the standard model is produced at a variable cost of $210 each and the competition model at a variable cost of $300 each, and if the total fixed costs per month are $6,000. then the monthly cost function is given by C ( x , y ) = 6 , 600 + 210 x + 300 y where x and y are the numbers of standard and competition models produced per month, respectively. Find C (20, 10), C (50, 5), and C (30, 30).
Solution Summary: The author calculates the monthly cost function C(x,y) that represents the cost of standard and competition surfboards (in dollars).
Cost function. A small manufacturing company produces two models of a surfboard: a standard model and a competition model. If the standard model is produced at a variable cost of $210 each and the competition model at a variable cost of $300 each, and if the total fixed costs per month are $6,000. then the monthly cost function is given by
C
(
x
,
y
)
=
6
,
600
+
210
x
+
300
y
where x and y are the numbers of standard and competition models produced per month, respectively. Find C(20, 10), C(50, 5), and C(30, 30).
You may need to use the appropriate appendix table or technology to answer this question.
You are given the following information obtained from a random sample of 4 observations.
24
48
31
57
You want to determine whether or not the mean of the population from which this sample was taken is significantly different from 49. (Assume the population is normally distributed.)
(a)
State the null and the alternative hypotheses. (Enter != for ≠ as needed.)
H0:
Ha:
(b)
Determine the test statistic. (Round your answer to three decimal places.)
(c)
Determine the p-value, and at the 5% level of significance, test to determine whether or not the mean of the population is significantly different from 49.
Find the p-value. (Round your answer to four decimal places.)
p-value =
State your conclusion.
Reject H0. There is insufficient evidence to conclude that the mean of the population is different from 49.Do not reject H0. There is sufficient evidence to conclude that the…
17
No chatgpt pls
Chapter 7 Solutions
Pearson eText for Calculus for Business, Economics, Life Sciences, and Social Sciences, Brief Version -- Instant Access (Pearson+)
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