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Purchasing You are the buyer for OHaganBooks.com and are considering increasing stocks of romance and horror novels at the new OHaganBooks.com warehouse in Texas. You have offers from two publishers: Duffin House and Higgins Press. Duffin offers a package of 5 horror novels and 5 romance novels for $50, and Higgins offers a package of 5 horror and 11 romance novels for $150. Exercises 29–32 give different scenarios for your purchasing options in response to these offers.
Upon revising her records, the accountant now tells you that the company can afford to spend a total of only $60,000 on romance and horror books and that it is company policy to spend the same amount of money at both publishers. How many packages should you purchase from each publisher?
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Chapter 3 Solutions
Bundle: Finite Mathematics, Loose-leaf Version, 7th + WebAssign Printed Access Card for Waner/Costenoble's Finite Mathematics, 7th Edition, Single-Term
- Widget Sales Jesaki Inc. is trying to enter the widget market. The research department established the following price-demand, cost, and revenue functions: p(x) = 60 - 1.20x C(x) = 210 + 12x Cost function |R(x) = xp(x) = x(60 - 1.20x) Revenue function Price-demand function where a is in thousands of widgets and C(x) and R(x) are in thousands of dollars. The price p(x) is the price in dollars of one widget when the demand is a thousand widgets. All three functions have domain 1 ≤ x ≤ 50.arrow_forwardA game consists of rolling a colored die with 3 red sides, 2 green sides, and one blue side. A roll of a red loses. A roll of a green pays $3.00. A roll of blue pays $8.00. The charge to play the game is $3.00. Would you play the game? Why or why not? Yes you should play. On any given roll the cost to play exceeds the amount you are expected to win. Yes you should play. On any given roll your expected value exceeds the amount that it cost to play the game. O No you should not play. On any given roll the cost to play exceeds the amount you are expected to win, O No you should not play. On any given roll your expected value exceeds the amount that it cost to play the game. O Yes you should play. You have a chance to win $8 and you only had to pay $2 to play.arrow_forwardMelting snowball. Please explain.arrow_forward
- Page I of 3 Date: Making a Profit At Elsenhower High School's home games, booster clubs willl often hold raffles to raise money for the for special causes. The Girls' Basketball Team had a gift basket filled with movie items to be Tamed off at the Coaches Versus Cancer night. The girls decided to charge $2 a raffle ticket. The gift basket contained: 4 tickets which cost $10.25 each, 12 boxes of candy which cost $2.50 each, a box of popcorn which costs $12, and 4 pairs of 3-D glasses which cost $4.25 each. Revenue is the amount of money the girls' basketball team brings in - its income. In this case, revenue is a function of number of tickets sold. Let x be the number of tickets sold. What is the revenue function? a. Revenue = f(x) = Cost is how much money the girls' basketball team spent. In this situation, cost is a constant function. What is the cost function? [Hint: The cost function equals the expenses.] b. Cost = Profit = Revenue – Cost. What is the profit function? (Use the…arrow_forwardPart 4. Answer 2arrow_forwardWork this problem involving silver rental cars with navigation systems. Assume that the car lot contains 25% Corvettes, 50% BMWs, and 25% Porsches. Of the Corvettes, 70% have navigation systems, 10% of the BMW's have navigation systems, and 50% of the Porsches have navigation systems. Furthermore, 40% of the Corvettes, 90% of the BMWs, and 70% of the Porsches are silver. The property of being silver is independent from having a navigation system. You are assigned a car at random. - If the car has a navigation system and is silver, what is the probability that it is a Corvette?arrow_forward
- Professor Oger must choose between an extra writing assignment and an extra reading assignment for the upcoming spring break. For the writing assignment, there are two essay topics to choose from and three different mandatory lengths (30 pages, 35 pages, or 40 pages). The reading topic would consist of one scholarly biography combined with one volume of essays. There are two biographies and six volumes of essays to choose from. How many choices does she have? HINT [See Example 2.]arrow_forwardPART 4: BALLOON DARTS (TWO-WAY TABLES) You have decided to place some camival games throughout the park to increase revenue. One of the games is balloon darts. The dartboard is covered with solid, striped, and polka dot balloons. In the space below, color your dartboard with the three balloon types... any way you'd like! There doesn't have to be the same amount of each style, just color them any way you choose. The first few have been done for you. QOOOO OOO O O O O Q Q Q 888 388 If a person pops a polka dot balloon with a dart, they win a prize. Let the first row of balloons represent the ones that were popped by your guests. Let the second row of balloons represent the ones that were not popped by your guests. Complete the two-way table below. Type of Balloon Number of times Popped Solid Polka Dot Striped Total Number of times NOT popped Total D • USE THE ABOVE INFORMATION TO ANSWER THE QUESTIONS BELOW: (Express your answer as a fraction, decimal, and percent) 1) What is the…arrow_forwardCollege Mathematics for Business, Econ, Life and Social Sci, 14e,arrow_forward
- Answer scenario 2arrow_forwardA bookstore at the Hartsfield-Jackson airport in Atlanta sells reading materials (paperback books, newspapers, magazines) as well as snacks (peanuts, pretzels, candy, etc.) A point-of-sale terminal collects a variety of information about customer purchases. The accompanying table shows the number of snack items and the number of items of reading material purchased by the most recent 600 customers. Reading materials snacks 0 1 2 0 0 60 18 1 240 90 30 2 120 30 12 please solve parts 2, 3, and 4 Using the data in the table construct an empirical discrete bivariate probability distribution for x = number of snack items and y = number of reading materials for a randomly selected customer purchase. What is the probability of a customer purchase consisting of one item of reading materials and two snack items? What is the probability of a customer purchasing one snack item only? Why is the probability f(x=0, y=0)=0? Show the marginal probability distribution for the number of…arrow_forwardOsteoporosis is a degenerative disease that primarily affects women over the age of 60. A research analyst wants to forecast sales of StrongBones, a prescription drug for treating this debilitating disease. She uses the model Sales = B0 + B1 Population + B2 Income + ε, where Sales is the sales of Strong Bones (in $1,000,000s), Population is the number of women over the age of 60 (in millions), and Income is the average income of women over the age of 60 (in $1,000s). She collects data on 29 cities across the United States and obtains the following regression results: Coefficients Standard Error t Stat p-Value Intercept Population Income 10.15 3.13 3.24 0.0071 8.45 1.11 7.61 0.0047 7.45 6.12 1.22 0.3468 a. What is the sample regression equation? Note: Enter your answers in millions rounded to 2 decimal places. Sales = + Population + Income b-1. Interpret the coefficient of population. As the number of women over the age of 60 increases by 1 million, sales of Strong Bones is predicted to…arrow_forward
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
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