Index-Fund Fees When a mutual fund company charges a fee of
Let
In September
Find the fee that maximizes the revenue of the company and determine the maximum revenue.
Want to see the full answer?
Check out a sample textbook solutionChapter 2 Solutions
Mylab Math With Pearson Etext -- 18 Week Standalone Access Card -- For Calculus & Its Applications
- Tuition at American Public Universities This is a continuation of Exercise 6. The following table shows the average yearly in-state tuition and required fees, in dollars, charged by four-year American public universities in the school year ending in the given year. Date Average tuition 2012 8318 2013 8595 2014 8872 2015 9149 2016 9426 a. Show that these data can be modeled by a linear function, and find its formula. b. What is the slope for the linear function modeling tuition and required fees for public universities? c. What is the slope of the linear function modeling tuition and required fees for private universities? Note: See Exercise 6. d. Explain what the information in parts b and c tells you about the rate of increase in tuition in public versus private institutions. e. Which type of institution shows the larger percentage increase from 2015 to 2016? 6. Tuition at American Private Universities The following table shows the average yearly tuition and required fees, in dollars, charged by four-year American private nonprofit universities in the school year ending in the given year. Date Average tuition 2012 27, 870 2013 29, 004 2014 30, 138 2015 31, 272 2016 32, 406 a. Show that these data can be modeled by a linear function, and find its formula. b. Plot the data points and add the graph of the linear formula you found in part a. c. What prediction does this formula give for average tuition and fees at four-year American private nonprofit universities for the academic year ending in 2021?arrow_forwardTEST YOUR UNDERSTADING FOR EXAMPLE 3.3 The State of New York also has an income tax. The tax table for New York shows that a single New York resident with a taxable income of 15,000 owes 671 in New York income tax. If the taxable income is 15,500, then the table shows a tax liability of 701. Assume that the state tax is a linear function of taxable income, and find the tax owed if the taxable income is 15,350. EXAMPLE 3.3 OKLAHOMA INCOME TAX The amount of income tax T=T(l), in dollars, owed to the state of Oklahoma is a linear function of the taxable income l, in dollars, at least over a suitably restricted range of incomes. According to the Oklahoma Income Tax table for the year 2015, a single Oklahoma resident taxpayer with a taxable income of 15,000 owes 579 in Oklahoma income tax. In functional notation, this is T(15,000)=579. If the taxable income is 15,500, then the table shows a tax liability of 605. Part 1 Calculate the rate of change in T with respect to I, and explain in practical terms what it means. Part 2 How much does the taxpayer owe if the taxable income is 15,350?arrow_forwardManufacturing Cost The manager of a furniture factory finds that it costs 2200 to produce 100 chairs in one day and 4800 to produce 300 chairs in one day. a Assuming that the relationship between cost and the number of chairs produced is linear, find a linear function C that models the cost of producing x chairs in one day. b Draw a graph of C. What is the slope of this line? c At what rate does the factorys cost increase for every additional chair produced?arrow_forward
- Algebra and Trigonometry (MindTap Course List)AlgebraISBN:9781305071742Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage LearningCollege AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage LearningAlgebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage
- Functions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage Learning