A golf ball manufacturer knows the cost associated with various hourly production levels, given below. Production Costs for Golf Balls Production (hundred balls b) Cost (dollars C) 247 354 431 11 497 14 531 17 565 20 623 (a) Write a cubic model for the data. (Round all numerical values to three decimal places.) C(b) = 0.0669b3 – 2.899962 + 54.953b + 146.35 dollars is the production cost when the hourly production rate is b hundred golf balls 2 sbs 20. (b) If 1000 balls are currently being produced each hour, calculate the marginal cost at that level of production. (Round your answer to two decimal places.) $ 17.25 X per hundred balls Interpret the result. (Round your numerical answer to two decimal places.) At an hourly production level of 1000 golf balls, production cost is increasing by $ 17.225 X per hundred golf balls.
A golf ball manufacturer knows the cost associated with various hourly production levels, given below. Production Costs for Golf Balls Production (hundred balls b) Cost (dollars C) 247 354 431 11 497 14 531 17 565 20 623 (a) Write a cubic model for the data. (Round all numerical values to three decimal places.) C(b) = 0.0669b3 – 2.899962 + 54.953b + 146.35 dollars is the production cost when the hourly production rate is b hundred golf balls 2 sbs 20. (b) If 1000 balls are currently being produced each hour, calculate the marginal cost at that level of production. (Round your answer to two decimal places.) $ 17.25 X per hundred balls Interpret the result. (Round your numerical answer to two decimal places.) At an hourly production level of 1000 golf balls, production cost is increasing by $ 17.225 X per hundred golf balls.
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Transcribed Image Text:A golf ball manufacturer knows the cost associated with various hourly production levels, given below.
Production Costs for Golf Balls
Production
(hundred balls b)
Cost
(dollars C)
247
354
431
11
497
14
531
17
565
20
623
(a) Write a cubic model for the data. (Round all numerical values to three decimal places.)
C(b) = 0.0669b3 – 2.899962 + 54.953b + 146.35
dollars is the production cost when the hourly production rate is b hundred golf balls 2
sbs 20.
(b) If 1000 balls are currently being produced each hour, calculate the marginal cost at that level of production. (Round your answer to two decimal places.)
$ 17.25
X per hundred balls
Interpret the result. (Round your numerical answer to two decimal places.)
At an hourly production level of 1000 golf balls, production cost is increasing
by $ 17.225
X per hundred golf balls.
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