Given the cost function as C(x):
a) Find the average cost function,
if C is the cost of selling x units, The Average can be denoted by:
this is the average cost function
b) The minimum average cost:
To find the minimum average cost, we'll have to differentiate the average cost function . and equate it to zero. (like finding the stationary point of any function)
now just simplify:
we've found the derivative of C(x), now to find the minimum we'll equate this derivative to zero.
and now solve for x
at this value of x the average cost is minimum.
This is the minimum average cost!
22 and 22
10 plus 12 equals 22.
12 plus 10 also equals 22 because regardless of what order they're in, they're gonna equal the same thing.
a) the midrange of the data set shown is 85.5
step by step explanation
let's find the midrange.
the midrange is nothing but add the greatest value and the least value, then divide it by 2.
here the greatest value = 99
the least value = 72
midrange = (99 + 72)/2
midrange = 85.5
the cost of producing x units of a product is modeled by
c = 500 +...