A vendor at a carnival sells cotton candy and caramel apples for $2.00 each. The vendor is charged $100 to set up his booth. Furthermore, the vendor’s average cost for each product he produces is approximately $0.75. a. Write a linear cost function representing the cost C(x) (in $) to the vendor to produce x products. b. Write a linear revenue function representing the revenue R(x) (in $) for selling x products. c. Determine the number of products to be produced and sold for the vendor to break even. d. If 60 products are sold, will the vendor make money or lose money?
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 vendor at a carnival sells cotton candy and caramel apples for $2.00 each. The vendor is charged $100 to set up his booth. Furthermore, the vendor’s average cost for each product he produces is approximately $0.75.
a. Write a linear cost function representing the cost C(x) (in $) to the vendor to produce x products.
b. Write a linear revenue function representing the revenue R(x) (in $) for selling x products.
c. Determine the number of products to be produced and sold for the vendor to break even.
d. If 60 products are sold, will the vendor make money or lose money?
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