Solved Examples - Business Mathematics II - Lecture Notes | MATH 115B, Study notes of Mathematics

Download Solved Examples - Business Mathematics II - Lecture Notes | MATH 115B and more Study notes Mathematics in PDF only on Docsity! Solver Examples Suppose that a shipping company has the following limitations on the boxes it will ship a. The circumference is at most 100 inches b. The sum of their dimensions is at most 120 inches c. Each dimension is at least 3 inches d. The length can be at most ((height^2+width^2+length^2))^0.5 i. Find the maximum volume of such a box ii. Find the maximum length of such a box. 2. The exercises given below refer to the situation that was discussed in the Demand, Revenue, Cost, and Profit class activity. The demand and cost functions for ostrich dinners were given by
  0.000001  25 and   10,000 13 , respectively. i. Use Solver to find the maximum number of dinners that the restaurant could sell and make a non-negative profit. Focus on the Project Each team needs to use Solver and your team’s data to check your earlier numerical results. a. Check the quantity that maximizes profit. b. Check the maximum profit. Modify your project files and use Solver to answer your team’s Questions 6-9 (From your Assignment spreadsheet). Study of the Focus pages will help with this work. You will apply Solver to the computation table in Rows 106 and 107 of the sheet Marginal in the Excel file Marketing Focus.xlsm. 6. What is the expected profit if the price is $***? 7. What would be the effect on profit if the demand was changed by ***? 8. How would the change in demand affect the optimal price of the product? 9. What would be the effect on profit if marginal costs changed by ***? For questions 7, 8, & 9 read the Focus files carefully on how to modify the sheet.