A corporation manufactures candles at two locations. The cost of producing x1 units at location 1 is C1 = 0.02x12 + 4x1 + 550 and the cost of producing x2 units at location 2 is C2 = 0.05x22 + 4x2 + 200 The candles sell for $13 per unit. Find the quantity that should be produced at each location to maximize the profit P = 13x1 + x2 − C1 − C2.
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
A corporation manufactures candles at two locations. The cost of producing x1 units at location 1 is
and the cost of producing x2 units at location 2 is
The candles sell for $13 per unit. Find the quantity that should be produced at each location to maximize the profit
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