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The cost function for manufacturing electric drills is estimated to be: 4x²_ C(x) Where C(x) is in dollars, and x is drills manufactured per hour. The average cost function is defined by AC = (a) Find the average cost function. AC = = - 6x + 784. C(x) X (b) What is the average cost (to the nearest penny) of producing 5 drills per hour? per drill. $ (c) What is the average cost (to the nearest penny) of producing 12 drills per hour? $ (d) Using Excel, find the number of drills per hour that should be produced to minimize average cost. drills per hour (e) What is the minimum average cost to the nearest penny? $ per drill per drill

The cost function for manufacturing electric drills is estimated to be: 4x²_ C(x) Where C(x) is in dollars, and x is drills manufactured per hour. The average cost function is defined by AC = (a) Find the average cost function. AC = = - 6x + 784. C(x) X (b) What is the average cost (to the nearest penny) of producing 5 drills per hour? per drill. $ (c) What is the average cost (to the nearest penny) of producing 12 drills per hour? $ (d) Using Excel, find the number of drills per hour that should be produced to minimize average cost. drills per hour (e) What is the minimum average cost to the nearest penny? $ per drill per drill

Intermediate Algebra
Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter4: Systems Of Linear Equations
Section4.3: Solve Mixture Applications With Systems Of Equations
Problem 159E: The manufacturer of a water bottle spends $5 to build each bottle and sells them for $10. The...
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The cost function for manufacturing electric drills is estimated to be: C(x) = 4x² - 6x + 784. Where C(x) is in dollars, and x is drills manufactured per hour. The average cost function is defined by AC = (a) Find the average cost function. AC = C(x) X (b) What is the average cost (to the nearest penny) of producing 5 drills per hour? per drill. $ (c) What is the average cost (to the nearest penny) of producing 12 drills per hour? $ (d) Using Excel, find the number of drills per hour that should be produced to minimize average cost. drills per hour (e) What is the minimum average cost to the nearest penny? $ per drill per drill
Transcribed Image Text:The cost function for manufacturing electric drills is estimated to be: C(x) = 4x² - 6x + 784. Where C(x) is in dollars, and x is drills manufactured per hour. The average cost function is defined by AC = (a) Find the average cost function. AC = C(x) X (b) What is the average cost (to the nearest penny) of producing 5 drills per hour? per drill. $ (c) What is the average cost (to the nearest penny) of producing 12 drills per hour? $ (d) Using Excel, find the number of drills per hour that should be produced to minimize average cost. drills per hour (e) What is the minimum average cost to the nearest penny? $ per drill per drill
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