4. The financial department of a hospital arrived at the cost function: C(x)=20x³-360x² +2300x-1000, 1≤x≤12. C(x) is the cost in thousands of dollars for handling x thousand cases per month. Determine the minimum average cost of the hospital, and give the number of cases per month needed to produce a minimum average cost. Round all answers to the nearest thousands. Draw a picture of your friendly window.
4. The financial department of a hospital arrived at the cost function: C(x)=20x³-360x² +2300x-1000, 1≤x≤12. C(x) is the cost in thousands of dollars for handling x thousand cases per month. Determine the minimum average cost of the hospital, and give the number of cases per month needed to produce a minimum average cost. Round all answers to the nearest thousands. Draw a picture of your friendly window.
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Transcribed Image Text:4. The financial department of a hospital arrived at the cost function:
C(x)=20x³ -360x² +2300x-1000, 1≤x≤12. C(x) is the cost in thousands of dollars for handling x
thousand cases per month. Determine the minimum average cost of the hospital, and give the number
of cases per month needed to produce a minimum average cost. Round all answers to the nearest
thousands. Draw a picture of your friendly window.
2100
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VIEWStep 3: Calculate the derivative of average cost function
VIEWStep 4: Calculate the critical values
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VIEWStep 6: Calculate the minimum average cost function
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