Complete the question.
1 answer:
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Answer:
(a)$13
(b) Loss of $4
Step-by-step explanation:
C(q) represents Cost of producing q units.
R(q) represents Revenue generated from q units.
P(q) represents Total Profit made from producing q units.
Marginal analysis is concerned with estimating the effect on quantities such as cost, revenue, and profit when the level of production is changed by a unit amount. For example, if C(q) is the cost of producing q units of a certain commodity, then the marginal cost, MC(q), is the additional cost of producing one more unit and is given by the difference
MC(q) = C(q + 1) − C(q).
Using the estimation
C'(q)≈=C(q+1)-C(q)
We find out that MC(q)=C'(q)
We can therefore compute the marginal cost by the derivative C'(q).
This also holds for Revenue, R(q) and Profit, P(q).
(a) If C'(50)=75 and R'(50)=88
51st item.
P'(50)=R'(50)-C'(50)
=88-75=$13
The profit earned from the 51st item will be approximately $13.
(b) If C'(90)=71 and R'(90)=67, approximately how much profit is earned by the 91st item.
P'(90)=R'(90)-C'(90)
=67-71= -$4
The profit earned from the 91 st item will be approximately -$4.
There was a loss of $4.
Answer:
There is a 24.3% probability that one of the calculators will be defective.
Step-by-step explanation:
For each calculator, there are only two possible outcomes. Either it is defective, or it is not. So we use the binomial probability distribution to solve this problem.
Binomial probability distribution
The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.
In which is the number of different combinations of x objects from a set of n elements, given by the following formula.
And p is the probability of X happening.
The probability of a defective calculator is 10 percent.
This means that
If 3 calculators are selected at random, what is the probability that one of the calculators will be defective
This is P(X = 1) when n = 3. So
There is a 24.3% probability that one of the calculators will be defective.