There were no choices.
However, to give some points on people with strong finance skills can manage a financial standing.
They would probably know when to spend or not depending on the cash, savings or earnings that they have. They can have estimations whether they are financially capable of every purchase. One other thing is they know the difference between a want and a need so they are focused on the needs which are priorities.
Hhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh
Answer:
a) attached below
b) P( profit ) = TR(q) - TC(q)
c) attached below
d) -$5000 ( loss )
Explanation:
Given data:
Fixed Cost = $10,000
Material cost per unit = $0.15
Labor cost per unit = $0.10
Revenue per unit = $0.65
<u>a) Influence diagram to calculate profit </u>
attached below
<u>b) derive a mathematical model for calculating profit.</u>
VC = variable cost per unit , LC = per unit labor cost , MC = per unit marginal cost, TC = Total cost of manufacturing , FC = Fixed cost, q = quantity, TR = Total revenue, R = revenue per unit
VC = LC + MC
TC (q) = FC + ( VC * q )
TR (q) = R * q
P( profit ) = TR(q) - TC(q) ------------ ( 1 )
c) attached below
<u>d) If Cox Electrics makes 12,000 units of the new product </u>
The resulting profit = -$5000
q = 12
P = TR ( q ) - TC ( q )
= ( R * q ) - ( Fc + ( Vc * q ) )
= ( 0.65 * 12000 ) - ( 10,000 + ( 0.25 * 12000 )
= -$5200
Answer:
The expected cost 8 years from now = $13.87
Explanation:
If the inflation rate averages 3 percent yearly over the next 8 years, the expected cost of services for any year in that time frame is given by
C (x) = K (1.03)ˣ
where
K = present cost = $10.95
x = time in years = 8
So, the expected cost of a haircut 8 years from now would be
C(x=8) = 10.95 (1.03)⁸ = $13.87
Hope this Helps!!!!