A paint company has a specific type of interior paint which costs $5.55 to produce each unit. The company also has a fixed cost
1 answer:
Answer:
Minimum total cost = $20550
maximum revenue $44,100
Step-by-step explanation:
Given data:
Production cost $5.55 per unit
Fixed cost = $15000 per month
Price, p = 42-0.01 q
where. q represent number of unit produced
revenue can be wriiten as
p.q = 42q - 0.01q^2
1) from information 1000 unit has to produced therefore
total cost = 15000 + 5.55×1000 = $20550
Minimum total cost = $20550
2) Revenue = 42q - 0.01q^2
therefore for maximum revenue q is = 2100
so, maximum revenue
= $44,100
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Answer:
a) 0.71
b) 0.9863
Step-by-step explanation:
a. Given the mean prices of a house is $403,000 and the standard deviation is $278,000
-The probability the probability that the selected house is valued at less than $500,000 is obtained by summing the frequencies of prices below $500,000:
Hence, the probability of a house price below $500,000 is 0.71
b. -Let X be the mean price of a randomly selected house.
-Since the sample size 40 is greater than 30, we assume normal distribution.
-The probability can therefore be calculated as follows:
Thus, the probability that the mean value of the 40 houses is less than $500,000 is 0.9863
For this case we can apply the Pythagorean theorem to find "x". Taking the rectangle triangle of base 5 we have:
By definition of power properties we have:
So:
Answer: