A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Topic Video
Question
- The financial department for a company established the following cost
function for producing and selling x thousand notebook computers:
C(x) = 4,000 + 500x thousand dollars
- Write a profit function for producing and selling x thousand notebook computers and indicate its domain.
- Complete the below table, computing profits to the nearest thousand dollars.
- Note: Price-demand function = p(x) = 2,000 – 60x. Domain = 1 <= x <= 25. Revenue already calculated for you
x (thousands) |
R(x) = Revenue |
C(x) = Costs |
P(x) Profit (thousand $) |
1 |
1,940 |
|
-2,560 |
5 |
1,700 |
|
|
10 |
1,400 |
|
|
15 |
1,100 |
|
|
20 |
800 |
|
|
25 |
500 |
|
|
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 3 steps with 4 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, probability and related others by exploring similar questions and additional content below.Similar questions
- The Demand Equation for business calculus textbooks is given by 1200 p= +40. Determine the Percentage Rate of Change of 0.1q+5 Revenue at q = 50 textbooks.arrow_forwardChoose the best model for revenue and then write a total cost function for fertilizer. Use graphs on your calculator to find where cost equals revenue.arrow_forwardThe average price for a movie ticket in Detroit, Michigan was $8 in 2010, and it increasesat 7% per year.Write the equation for the function that models the average price of a movie tickett years after 2010.arrow_forward
- Find the point of diminishing returns for the given revenue function.R=−1.85(x3−24x2−27)R=-1.85(x3-24x2-27)For this function, RR stands for revenue and xx is the amount spent on advertising (in thousands of dollars).Amount spent on advertising: $ thousandRevenue: $ thousandarrow_forwardStudents at University of Wakanda will pay $2004 for 9 credits and $2796 for 15 credits. If the cost function is linear, find the associated fixed cost.arrow_forwardYou are an accountant for a manufacturer of radios. The demand function for the tablets is p=40-4x^2 where x is the number of tablets produced in millions. It costs the company $15 to make a tablet. i. Write an equation for the manufacturer's profit as a function of the number of tablets produced. ii. The company currently produces 1 million tablets and makes a profit of $21,000,000, but you would like to scale up production a bit. What greater number of tablets could the company produce to yield the same profit?arrow_forward
- What would the revenue function bearrow_forwardA car initially sold for $23,999. Its class life is 12 years, and the car depreciates by $750 each year. Express this as a linear function. Find the salvage value. Then, find the value after six years.arrow_forwardA company is planning to manufacture mountain bikes. Fixed monthly cost will be $300,000 and it will cost $200 to produce each bicycle. A. Write the cost function, C, of producing x mountain bikes. C(x) = per month B. Write the average cost function, C, of producing x mountain bikes. C(x) = per month %3D C. How many mountain bikes must be produced each month for the company to have an average cost of $300 per bike? must be produced each month. Enter your answer in each of the answer boxes.arrow_forward
- Describe a revenue function for a business venture.arrow_forwardEtwell Desserts currently sells chocolate syrup at a price of $28. per bottle. Their researchdepartment has derived the price-demand equation as p=50−0.004 x where x is the number of bottles that can be sold at $ p per bottle. (a) Express the demand x as a function of price p. Find the domain of this function.arrow_forwardBMX company makes a device which has a linear total revenue curve given by TR = 10x and a total cost curve of TC=xsquared - 2090x + 200,000. Determine the break even points algebraically and write the profit function in terms of the TC and TR functions given abovearrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- A First Course in Probability (10th Edition)ProbabilityISBN:9780134753119Author:Sheldon RossPublisher:PEARSON
A First Course in Probability (10th Edition)
Probability
ISBN:9780134753119
Author:Sheldon Ross
Publisher:PEARSON