A firm produces a product that has the production cost function C(x) = 420x + 14,420 and the revenue function R(x) = 560x. No more than 36 units can be sold. Find and analyze the break-even quantity, then find the profit function. The break-even quantity is 103 units (Type a whole number.) If the company can produce and sell no more than 36 units, should it do so?

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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.