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Assignment 5 Solutions (1206A5w2008)

Assignment 5 Solutions (1206A5w2008) - MGSC 1206.2...

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MGSC 1206.2 Assignment #5 - SOLUTIONS Winter 2008 Due: 1 pm, Friday, March 7 th TOTAL MARKS FOR THIS ASSIGNMENT = 55 Note: Points will be deducted if you do not (a) show your work including suitable calculations, (b) use proper notation, and (c) answer word problems with words. Hand in your answers to the following questions: 1. Textbook 11.3 #6 (p.631) 2. Textbook 11.4 #12 (p.650) 1 2 pts 2 pts 2 pts 2 pts

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3. Textbook 12.1 #8 (p.681) 4. Textbook 12.2 #8 (p.692) 5. Gardeners Warehouse anticipates selling 7000 bedding plants per week in May and June at \$0.99 each. It has been suggested that if they cut their price to \$0.89 each, they would be able to increase their sales to 9,000 plants per week. a) Assuming a linear demand relationship between quantity and price, construct a function that will tell Gardeners Warehouse the price that must be set for a given target sales level. Let x = # of plants sold p = price per plant Assuming a linear relationship p = mx + B 00005 . 0 000 , 2 10 . 0 000 , 9 000 , 7 89 . 0 99 . 0 - = - = - - = = quantity in change price in change m 0.99 = -0.00005(7,000) + B = -.35 + B B = 1.34 p = -.00005x + 1.34 2 3 pts 3 pts - for any correct form of the answer 3 pts - for any correct form of the answer
b) What is their revenue as a function of quantity sold? Revenue = R(x) = (price)*(quantity) = (-.00005x +1.34)x = -0.00005x 2 + 1.34x c) Growing plants involves a fixed cost of \$500 and \$0.10 per plant, so the cost of growing x plants is C( x ) = 500 + 0.1 x.

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The text appears to be a set of solutions for an assignment in a business mathematics course, containing several questions and their corresponding answers, including a detailed solution to a word problem about a linear demand relationship.
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    1. If it contains a mathematical question (including word problems or calculations)
    2. If an answer to that mathematical question is provided in the text

First, describe the content structure you found in 1-2 sentences.

Then provide your analysis in the following format:
TYPE: <one of the following values>
- NO_QUESTION
- SINGLE_QUESTION
- SINGLE_QUESTION_WITH_ANSWER
- MULTIPLE_QUESTIONS
- MULTIPLE_QUESTIONS_WITH_ANSWERS
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Assignment 5 Solutions (1206A5w2008)

Assignment 5 Solutions (1206A5w2008) - MGSC 1206.2...

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MGSC 1206.2 Assignment #5 - SOLUTIONS Winter 2008 Due: 1 pm, Friday, March 7 th TOTAL MARKS FOR THIS ASSIGNMENT = 55 Note: Points will be deducted if you do not (a) show your work including suitable calculations, (b) use proper notation, and (c) answer word problems with words. Hand in your answers to the following questions: 1. Textbook 11.3 #6 (p.631) 2. Textbook 11.4 #12 (p.650) 1 2 pts 2 pts 2 pts 2 pts

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3. Textbook 12.1 #8 (p.681) 4. Textbook 12.2 #8 (p.692) 5. Gardeners Warehouse anticipates selling 7000 bedding plants per week in May and June at \$0.99 each. It has been suggested that if they cut their price to \$0.89 each, they would be able to increase their sales to 9,000 plants per week. a) Assuming a linear demand relationship between quantity and price, construct a function that will tell Gardeners Warehouse the price that must be set for a given target sales level. Let x = # of plants sold p = price per plant Assuming a linear relationship p = mx + B 00005 . 0 000 , 2 10 . 0 000 , 9 000 , 7 89 . 0 99 . 0 - = - = - - = = quantity in change price in change m 0.99 = -0.00005(7,000) + B = -.35 + B B = 1.34 p = -.00005x + 1.34 2 3 pts 3 pts - for any correct form of the answer 3 pts - for any correct form of the answer
b) What is their revenue as a function of quantity sold? Revenue = R(x) = (price)*(quantity) = (-.00005x +1.34)x = -0.00005x 2 + 1.34x c) Growing plants involves a fixed cost of \$500 and \$0.10 per plant, so the cost of growing x plants is C( x ) = 500 + 0.1 x.

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What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern
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The text appears to be a set of solutions for an assignment in a business mathematics course, containing several questions and their corresponding answers, including a detailed solution to a word problem about a linear demand relationship.

TYPE: MULTIPLE_QUESTIONS_WITH_ANSWERS