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Numerical analysis and numerical methods are also applicable in field of finance and marketing. Revenues, costs, and profits can be represented as equations. An example, it costs a firm D(m) dollars to produce m grams per day of a certain chemical, where D(m) = 1000 + 2m + 3m²/3 For its revenue, the firm can sell any amount of the chemical at $4 a gram. Find the break-even point (the point when revenue is equal to cost) of the firm, that is, how much it should produce per day in order to have neither a profit nor a loss. Find the true value and give the answer to the nearest gram by using the a) False-position Method and iterate until the approximate error falls below 0.05% or the number of iterations exceeds 5. Take m to range from 500 to 1000. b) Secant Method and iterate until the approximate error is at 0% or the number of iterations exceeds 10. Take m to range from 400 to 8000.

Numerical analysis and numerical methods are also applicable in field of finance and marketing. Revenues, costs, and profits can be represented as equations. An example, it costs a firm D(m) dollars to produce m grams per day of a certain chemical, where D(m) = 1000 + 2m + 3m²/3 For its revenue, the firm can sell any amount of the chemical at $4 a gram. Find the break-even point (the point when revenue is equal to cost) of the firm, that is, how much it should produce per day in order to have neither a profit nor a loss. Find the true value and give the answer to the nearest gram by using the a) False-position Method and iterate until the approximate error falls below 0.05% or the number of iterations exceeds 5. Take m to range from 500 to 1000. b) Secant Method and iterate until the approximate error is at 0% or the number of iterations exceeds 10. Take m to range from 400 to 8000.

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.CR: Chapter Review
Problem 70E: A company manufactures two fertilizers, x and y. Each 50-pound bag of fertilizer requires three...
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4) Numerical analysis and numerical methods are also applicable in field of finance and marketing. Revenues, costs, and profits can be represented as equations. An example, it costs a firm D(m) dollars to produce m grams per day of a certain chemical, where D(m) = 1000 + 2m + 3m?/3 For its revenue, the firm can sell any amount of the chemical at $4 a gram. Find the break-even point (the point when revenue is equal to cost) of the firm, that is, how much it should produce per day in order to have neither a profit nor a loss. Find the true value and give the answer to the nearest gram by using the a) False-position Method and iterate until the approximate error falls below 0.05% or the number of iterations exceeds 5. Take m to range from 500 to 1000. b) Secant Method and iterate until the approximate error is at 0% or the number of iterations exceeds 10. Take m to range from 400 to 8000.
Transcribed Image Text:4) Numerical analysis and numerical methods are also applicable in field of finance and marketing. Revenues, costs, and profits can be represented as equations. An example, it costs a firm D(m) dollars to produce m grams per day of a certain chemical, where D(m) = 1000 + 2m + 3m?/3 For its revenue, the firm can sell any amount of the chemical at $4 a gram. Find the break-even point (the point when revenue is equal to cost) of the firm, that is, how much it should produce per day in order to have neither a profit nor a loss. Find the true value and give the answer to the nearest gram by using the a) False-position Method and iterate until the approximate error falls below 0.05% or the number of iterations exceeds 5. Take m to range from 500 to 1000. b) Secant Method and iterate until the approximate error is at 0% or the number of iterations exceeds 10. Take m to range from 400 to 8000.
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