Concept explainers
(a)
The capital investment at which the point of diminishing returns to closest among
(b)
To calculate: The slope of a line from
.
(c)
The maximum average point attained at
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Chapter 10 Solutions
Mathematical Applications for the Management, Life, and Social Sciences
- Spawner-Recruit Model In fish management it is important to know the relationship between the abundance of the spawners also called the parent stock and the abundance of the recruitsthat is, those hatchlings surviving to maturity. According to the Ricker model, the number of recruits R as a function of the number of spawners P has the form R=APeBp for some positive constants A and B. This model describes well a phenomenon observed in some fisheries: A large spawning group can actually lead to a small group of recruits. In a study of the sockeye salmon, it was determined that A=4 and B=0.7. Here we measure P and R in thousands of salmon. a. Make a graph of R versus P for the sockeye salmon. Assume there are at most 3000 spawners. b. Find the maximum number of salmon recruits possible. c. If the number of recruits R is greater than the number of spawners P, then the difference R-P of the recruits can be removed by fishing, and next season there will once again be P spawners surviving to renew the cycle. What value of P gives the maximum value of R-P, the number of fish available for removal by fishing?arrow_forwardFreight on Class I Railroads According to the Association of American Railroads, Class I freight railroads are the line-haul freight railroads with 2006 operating revenue in excess of 346.8million. Let F=F(t) denote the freight revenue in billions of dollars of Class I railroads in year t. In 2005, Class I railroads had a freight revenue of 44.5billion. In 2007, the revenue was 52.9 billion. Calculate the average rate of change per year in F from 2005 to 2007 and explain its meaning in practical terms.arrow_forward
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