A bookstore marks up the price of a book by 40% of the cost from the publisher. Therefore, the bookstore’s price to the student, P ( x ) ( in $ ) after a 7.5% sales tax, is given by P ( x ) = 1.075 ( x + 0.40 x ) , where x is the cost of the book from the publisher. Evaluate P ( 60 ) and interpret the meaning in the context of this problem.
A bookstore marks up the price of a book by 40% of the cost from the publisher. Therefore, the bookstore’s price to the student, P ( x ) ( in $ ) after a 7.5% sales tax, is given by P ( x ) = 1.075 ( x + 0.40 x ) , where x is the cost of the book from the publisher. Evaluate P ( 60 ) and interpret the meaning in the context of this problem.
Solution Summary: The author calculates the value of P(60) and interprets it. If the bookstore's price to the student is 60, then the total price of the book including sales tax
A bookstore marks up the price of a book by 40% of the cost from the publisher. Therefore, the bookstore’s price to the student,
P
(
x
)
(
in $
)
after a 7.5% sales tax, is given by
P
(
x
)
=
1.075
(
x
+
0.40
x
)
, where x is the cost of the book from the publisher. Evaluate
P
(
60
)
and interpret the meaning in the context of this problem.
During a nationwide program to immunize the population against a new strain of the flu. Pullic Health officials determined that the cost of inoculating x% of the susceptible population would be approximately C(x) = 1.85x / 100 - x million dollars.
a. What would it cost to profiding immunication to the first 20% of the susceptible polulation?
b. What would it cost to providing immunization to the next 30% of the susceptible population?
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: $ thousand
P₁ = 2,754 0.55D; 2.52C; +252G; + 576PE; + 1,750F;
(0.12) (1.1) (135)
(200)
(450)
P₁ = Annual employee health insurance contribution, in real $
D₁ = Annual plan deductible, in real $
C₁ = Copayment amount for outpatient care visit, in real $
G₁ = Gender of employee (G₂ = 1 if female)
PE₁ = Dummy for pre-existing condition (PE; = 1 if yes)
F₁ = Dummy for family plan (F; = 1 if yes)
Use the information above to answer the following question:
Interpret the meaning of the estimated coefficient on D₂
where:
O The coefficient tells us that increasing the plan's deductible by $1 leads to a reduction in premiums of $55, all else
held constant.
O The coefficient tells us that increasing the plan's deductible by $1 leads to a reduction in premiums of $2.52, all
else held constant.
The coefficient tells us that increasing the plan's deductible by $1 leads to a reduction in premiums of $0.55, all
else held constant.
O The coefficient tells us that increasing the plan's deductible by $1 leads to a…
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