The table shows the annual profits (in thousands of dollars) of a county fair from 2008 to 2012. What must the 2012 profit be (i
n hundreds of dollars) to break even over the five-year period?
2 answers:
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Question:
59 Revenue. The revenue (in dollars) from the sale of x infant car seats for infants is given by
R(x) =60·x - 0.025·x² 0 ≤ x ≤ 2400
(A) Find the average change in revenue if production is changed from 1,000 car seats to 1,050 car seats.
(B) Use the four-step process to find
(C) Find the revenue and the instantaneous rate of change of revenue at a production level of 1,000 car seats, and write a brief verbal interpretation of these results
Answer:
(A) $437.5
(B) R'(x) = 60 - 0.05·x
(C) $10
Step-by-step explanation:
(A) Here we have the change in revenue when production is increased from 1,000 car seats to 1,050 car seats is given as follows;
R(1050) - R(1000) = 60×1050 - 0.025×1050² - (60×1000 - 0.025×1000²)
R(1050) - R(1000) = 63000 - 27562.5 - 35000 = $437.5
(B) R'(x) is given by
Step 1. R(x + h) = 60·(x+h) - 0.025·(x+h)²
Step 2 R(x + h) - R(x) = 60·(x+h) - 0.025·(x+h)² - 60·x - 0.025·x² =
Step 3
Step 4
∴ R'(x) = 60 - 0.05·x
(c) The revenue at a production level of 1000 car seats is
R(1000) = (60×1000 - 0.025×1000²) = $35,000
The instantaneous rate of change of revenue is given as follows
R'(x) = 60 - 0.05·x = 60 - 0.05×1000 = $10.
Standard deviations of the four activities of the critical path are 1,2,4,2.
Standard deviation of this critical path = Sum of square root of variance of this corresponding critical path
Standard deviation of critical path
Now we need to find the probability that the project will completed in 38 weeks given that its expected completion time is 40 weeks.
That is, we need to find P(X<38) :
Probability
Thus the probability that the project will be completed in 38 weeks is 0.34.
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