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A small machine shop manufactures drill bits used in the petroleum industry. Based on additional data, the manager estimates that the total daily cost (in dollars) of producing k bits is the cost function... bit body bt bony bit body C(X) = 1600 + 0.23X? %3D thread thread thread (a) PDC B (b) pregnated Bit (e) Natiural Diamond Bt where X is the number of bits produced and $1600 is the daily fixed cost and $0.23X is the variable cost per unit. The manager has set a production goal to produce the number of bits per day which will keep the average cost per bit as low as possible. Find the production level (i.e., value of X) that will generate the minimum average cost per unit. (Round your answer to the nearest whole number)

A small machine shop manufactures drill bits used in the petroleum industry. Based on additional data, the manager estimates that the total daily cost (in dollars) of producing k bits is the cost function... bit body bt bony bit body C(X) = 1600 + 0.23X? %3D thread thread thread (a) PDC B (b) pregnated Bit (e) Natiural Diamond Bt where X is the number of bits produced and $1600 is the daily fixed cost and $0.23X is the variable cost per unit. The manager has set a production goal to produce the number of bits per day which will keep the average cost per bit as low as possible. Find the production level (i.e., value of X) that will generate the minimum average cost per unit. (Round your answer to the nearest whole number)

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter6: Linear Systems
Section6.8: Linear Programming
Problem 25E: Production Manufacturing DVRs and TVs requires the use of the electronics, assembly, and finishing...
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Cost Analysis A small machine shop manufactures drill bits used in the petroleum industry. Based on additional data, the manager estimates that the total daily cost (in dollars) of producing k bits is the cost function .. bit body bt bony bit body C(X) = 1600 + 0.23X2 thread thread thread where X is the number of bits produced and $1600 is (a) PDC B (b) mpregnated Bit (c) Natural Diamond Bt the daily fixed cost and $0.23X is the variable cost per unit. The manager has set a production goal to produce the number of bits per day which will keep the average cost per bit as low as possible. Find the production level (i.e., value of X) that will generate the minimum average cost per unit. (Round your answer to the nearest whole number) ASUS
Transcribed Image Text:Cost Analysis A small machine shop manufactures drill bits used in the petroleum industry. Based on additional data, the manager estimates that the total daily cost (in dollars) of producing k bits is the cost function .. bit body bt bony bit body C(X) = 1600 + 0.23X2 thread thread thread where X is the number of bits produced and $1600 is (a) PDC B (b) mpregnated Bit (c) Natural Diamond Bt the daily fixed cost and $0.23X is the variable cost per unit. The manager has set a production goal to produce the number of bits per day which will keep the average cost per bit as low as possible. Find the production level (i.e., value of X) that will generate the minimum average cost per unit. (Round your answer to the nearest whole number) ASUS
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