Question

The cost of making a chair is $28 correct to the nearest dollar. Calculate the lower and upper bounds for the cost of making 450 chairs

Answer 1

Answer:

$12,375

$12820.50

Step-by-step explanation:

To obtain a rounded value of $28 (to nearest dollar) the lowest and highest possible value before rounding will be : 27.50 and 28.49

Hence,

Lower bound = $27.50

Upper bound = $28.49

Therefore. Cost of making 450 chairs ;

27.50 * 450 = $12,375 (lower bound)

28.49 * 450 $12820.50 (upper bound)