Concept explainers
Reminder Round all answers to two decimal places unless otherwise indicated.
A wedding Reception You rent a wedding venue for a cost of
a. What is the cost of the venue and lunch if you invite
b. Find a formula showing the cost of the venue and the lunch as a function of
c. The amount you have budgeted for the venue and catered lunch is
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Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
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Glencoe Algebra 2 Student Edition C2014
College Algebra with Modeling & Visualization (5th Edition)
Beginning and Intermediate Algebra (6th Edition)
Elementary & Intermediate Algebra
College Algebra (5th Edition)
College Algebra (6th Edition)
- Reminder: Round all answer to two decimal places unless otherwise indicated. 15.Total Cost The total cost C for a manufacturer during a given time period is a function of the number N of items produced during that period. To deter mine a formula for the total cost, we need to know the manufacturers fixed costs covering things such as plant maintenance and insurance, as well as the cost for each unit produced, which is called the variable cost. To find the total cost, we multiply the variable cost by the number of items produced during that period and then add the fixed costs. Suppose that a manufacturer of widgets has fixed costs of 9000 per month and that the variable cost is 15 per widget so it costs 15 to produce 1 widget. a. Use a formula to express the total cost C of this manufacturer in a month as a function of the number of widgets produced in a month. Be sure to state the units you use. b. Express using functional notation the total cost if there are 250 widgets produced in a month, and then calculate that value.arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Note Some of the formulas below use the special number e, which was presented in the Prologue. The height of the winning pole vault in the early years of the modern Olympic Games can be modeled as a function of time by the formula H=0.05t+3.3 Here t is the number of years since 1900, and H is the winning height in meters. One meter is 39.37 inches. a. Calculate H(4) and explain in practical terms what your answer means. b. By how much did the height of the winning pole vault increase from 1900 to 1904? From 1904 to 1908?arrow_forwardReminder: Round all answer to two decimal places unless otherwise indicated. a. How much does it cost to prepare and mail a 3-page letter if your secretary spends 2 hours on typing and corrections? b. Use a formula to express the cost of preparing and mailing a letter as a function of the number of pages in the letter and the time it takes your secretary to type it. Identify the function and each of the variables you use, and state the units. c. Use the function you made in part b to find the cost of preparing and mailing a 2-page letter that it takes your secretary 25 minutes to type. Note: 25 minutes is 25/60 hour.arrow_forward
- ReminderRound all answers to two decimal places unless otherwise indicated. Minimum WageOn July 24, 2008, the federal minimum wage was 6.55perhour. On July 24, 2009, this wage was raised to 7.25perhour. If W(t) denotes the minimum wage, in dollars per hour, as function of time, in years, use the given information to estimate dWdt in 2009.arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Catering a Dinner You are having a dinner catered. You pay a rental fee of 150 for the dining hall, and you pay the caterer 10 for each person who attends the dinner. a. Suppose you just want to break even. i.How much should you charge per ticket if you expect 50 people to attend? iiUse a formula to express the amount you should charge per ticket as a function of the number of people attending. Be sure to explain the meaning of the letters you choose and the units. iii.You expect 65 people to attend the dinner. Use your answer to part ii to express in functional notation the amount you should charge per ticket, and then calculate that amount. b. Suppose now that you want to make a profit of 100 from the dinner. Use a formula to express the amount you should charge per ticket as a function of the number of people attending. Again, be sure to explain the meaning of the letters you choose and the units.arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Profit The total cost C for a manufacturer during a given time period is a function of the number N of items produced during that period. In this exercise, we measure all monetary values in dollars. To determine a formula for the total cost, we need to know the manufacturers fixed costs covering such things as plant maintenance and insurance as well as the cost for each unit produced, which is called the variable cost. To find the total cost, we multiply the variable cost by the number of items produced during that period and then add the fixed costs. The total revenue R for a manufacturer during a given time period is also a function of the number N of items produced during that period. To determine a formula for the total monthly revenue, we need to know the selling price p per unit of the item, which in general is also a function of N. To find the total revenue, we multiply this selling price by the number of items produced. The profit P for a manufacturer is the total revenue minus the total cost. Suppose that a manufacturer of widgets has a fixed costs of 2000 per month and that the variable cost is 30 per widget. Further, the manufacturer has developed the following table showing the highest price p, in dollars, of a widget at which N widgets can be sold. Number N Price p 200 41.00 250 40.50 300 40.00 350 39.50 a.Use a formula to express the total monthly cost C of this manufacturer as a function of N. b.Use the table to find a linear model of p as a function of N. c.Use your answer to part b to find a formula expressing the total monthly revenue R as function of N. d.Use your answers to part a and part c to find a formula expressing the monthly profit P as a function of N. What type of function is the profit: linear or quadratic? e.Find the two monthly production levels at which the manufacturer just breaks even that is, where the profit is zero.arrow_forward
- Reminder Round all answer to two decimal places unless otherwise indicated. Total Cost The total cost C for a manufacturer during a given time period is a function of the number N of items produced during that period. To determine a formula for the total cost, we need to know two things. The first is the manufacturers fixed costs. This amount covers expenses such as plant maintenance and insurance, and it is the same no matter how many items are produced. The second thing we need to know is the cost for each unit produced, which is called the Variable cost. Suppose that a manufacturer of widgets has fixed costs of 1500 per month and that the variable cost is 20 per widget so it costs 20 to produce 1 widget. a. Explain why the function giving the total monthly cost C, in dollars, of this widget manufacturer in terms of the number N of widgets produced in a month is linear. Identify the slope and initial value of this function, and write down a formula. b. Another widget manufacturer has a variable cost of 12 per widget, and the total is 3100 when 150 widgets are produced in a month. What are the fixed costs for this manufacturer? c. Yet another widget manufacturer has determined the following: The total cost is 2700 when 100 widgets are produced in a month, and the total cost is 3500 when 150 widgets are produced in a month. What are the fixed costs and variable costs for this manufacturer?arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. World Copper Production World production of copper, in millions of tons per year, from 1900 to 2000 is given by C=0.51.033t, where t is the time in years since 1900. a.What production level does this model give for the year 2000? b.If this model were extended to 2025, how could you use your knowledge of copper production in 2024 to estimate copper production in 2025?arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Getting Celsius Fro Fahrenheit Water freezes at 0 degrees Celsius, which is the same as 32 degrees Fahrenheit. Also, water boils at 100 degrees Celsius, which is the same as 212 degrees Fahrenheit. a. Use the freezing and boiling points of water to find a formula expressing Celsius temperature C as a linear function of the Fahrenheit temperature F b. What is the slope of the function you found in part a? Explain its meaning in practical terms. c. In Example 3.5, we showed that F=1.8C+32. Solve this equation for C and compare the answer with that obtained in part a.arrow_forward
- Reminder Round all answers to two decimal places unless otherwise indicated. 9. Cell Phone Charges Again One cell phone plan charges a flat monthly rate of 34.95 with extra charges of 0.35 per minute for each minute after the first 4000 minutes and 0.10 per text message after the first 100 text messages. a. Choose letters to represent the variables. b. Write a formula to express the cell phone charges as a function of the number of minutes used assume that the number is at least 4000 and the number of text messages assume that the number is at least 100. c. What are your cell phone charges if you use 6000 minutes and 450 text messages? d. Write the formula to express the cell phone charges, this assuming that the minutes are at least 4000, but the number of text message is less than 100. e. What are your cell phone charges if you use 4200 minutes and 88 text messages?arrow_forwardReminder: Round all answer to two decimal places unless otherwise indicated. a. Calculate the rental charge if you rent a car for 2 days and drive 100 miles. b. Use a formula to express the cost of renting a car as a function of the number of days you keep it and the number of miles you drive. Identify the function and each variable you use, and state the units. c. It is about 250 miles from Dallas to Austin. Use functional notation to express the cost to rent a car in Dallas, drive it to Austin, and return it in Dallas 1 week later. Use the formula from part b to calculate the cost.arrow_forwardReminder Round all answer to two decimal places unless otherwise indicated. Real Estate Sales A real estate agency has fixed monthly costs associated with rent, staff salaries, utilities, and supplies. It earns its money by taking a percentage commission on total real estate sales. During the month of July, the agency had total sales of 832,000 and showed a net income after paying fixed costs of 15,704. In August, total sales were 326,000 with a net income of only 532. a. Use a formula to express net income as a linear function of total sales. Be sure to identify what the letters that you use mean. b. Plot the graph of net income and identify the slope and vertical intercept. c. What are the real estate agencys fixed monthly costs? d. What percentage commission does the agency take on the sale of a home? e. Find the horizontal intercept and explain what this number means to the real estate agency.arrow_forward
- Functions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage Learning