Concept explainers
EXERCISES
Net Profit Margin The net profit margin tells how much profit a company makes for every dollar it generates in revenue. If
A certain company pays a tax rate of 20% on its income.
a. Use
b. Use a formula to express the net profit margin in terms of the variables
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Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
- Population The population P (in millions) of Italy from 2003 through 2015 can be approximated by the model P=57.59e0.0051t, where t represents the year, with t=3 corresponding to 2003. (a) According to the model, is the population of Italy increasing or decreasing? Explain. (b) Find the populations of Italy in 2003 and 2015. (c) Use the model to predict the populations of Italy in 2020 and 2025.arrow_forwardSize of High Schools The farm population has declined dramatically in the years since World War II, and with that decline, rural school districts have been faced with consolidating in order to be economically efficient. One researcher studied data from the early 1960s on expenditures for high schools ranging from 150 to 2400 in enrollment. He considered the cost per pupil as a function of the number of pupils enrolled in the high school, and he found the approximate formula C=7430.402n+0.00012n2 where n is the number of pupils enrolled and C is the cost, in dollars, per pupil. a. Make a graph of C versus n. b. What enrollment size gives a minimum per-pupil cost? c. If a high school had an enrollment of 1200, how much in per-pupil cost would be saved by increasing enrollment to the optimal size found in part b?arrow_forwardProfit = revenue cost Cost and Revenue A tire company determines that to manufacture a certain type of tire, it costs $8000 to set up the production process. Each tire that is produced costs $22 in material and labor. The company sells this tire to wholesale distributors for $49 each. (a) Find a formula for the cost C of producing x tires? (b) Find a formula for the revenue R from selling x ? (c) Find a formula for the profit P from selling x tires? (d)How many tires must the company sell to break even?arrow_forward
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