Suppose that the monthly cost, in dollars, of producing x chairs is C(x) = 0.002x³ + 0.07x + 15x +600, and currently 40 chairs are produced monthly. a) What is the current monthly cost? b) What is the marginal cost when x= 40? c) Use the result from part (b) to estimate the monthly cost of increasing production to 42 chairs per month. d) What would be the actual additional monthly cost of increasing production to 42 chairs monthly? a) The current monthly cost is $ (Round to the nearest cent as needed.)
Permutations and Combinations
If there are 5 dishes, they can be relished in any order at a time. In permutation, it should be in a particular order. In combination, the order does not matter. Take 3 letters a, b, and c. The possible ways of pairing any two letters are ab, bc, ac, ba, cb and ca. It is in a particular order. So, this can be called the permutation of a, b, and c. But if the order does not matter then ab is the same as ba. Similarly, bc is the same as cb and ac is the same as ca. Here the list has ab, bc, and ac alone. This can be called the combination of a, b, and c.
Counting Theory
The fundamental counting principle is a rule that is used to count the total number of possible outcomes in a given situation.
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