Mart#H 103 REVIEW FOR FINAL EXAM 1. Please simplify your answers as far as possible without a calculator. You may leave your answers in terms of exponential and logarithmic expressions. (a) Jobn invests $5,000 in an account with semi-annual compounding and an annual interest rate of 4%, How much money will he have after 35 years? Answer with units: A seo (i.o2 ) FO , ; A = sooof It — (b) $7000 was deposited in a bank account earning 5.5% interest compounded continuously. How long will it take for the amount in the account to double? Answer pith units: WY eee tai 0.065 ors ptt A= Pe igoco = 7000 & Oos oosre(c) Assume that the yearly rate of price inflation for housing in the the next ten yoars is 3.5% and assume that this is compounded annually. A house costing $780,000 today will cost ‘more in ten years. How much will it cost in ten years? ‘Answer with units: tt fh 0,000 | [035 2. (a) What is the yield on a investment earning 10% compounded continuously? One of the following calculations will help you answer the question, Circle the calculation that helps. Yield (as a percentage): 0.82 “Lo (2.10)? = 1.2100 | (1.05)? = 1.1025 | (1.028) = 1.1038 9 = 1.1052 | 9% = 1.0513 | et? = 3.0042(b) What is the present value of a cash flow of $1000 per year at a rate of 4%? Present valye (with units) co 28, coe = 2S, 000 (c) What is the yield on a investment earning 8% compounded quarterly? One of the following calculations will help you answer the question, Cirele the calculation that helps. §.24 fo (1.08)! = 1.3605 | (1.04)? = 1.0816 | (1.02)¢ = 1.0824 ‘Yield (as a percentage): e998 = 1.0833 | 4e% = 4.0808 | eM = 2.9447 f =P l4{d) What is the yearly cash flow from a perpetuity with a present value of $200,000. The annual rate of return is 8%. Yearly cash fo (with units) [6 ,ce . Grandpa Bill wants to buy an outdoor playground set with a swing and slide for his grandkids, ‘That set costs $550 now. If he waits 2 years to buy it, how much will it cost if the yearly inflation rate for these playground sets is 5%? Summary: AP An iufla hu var of 5% cals, Hk pice of a FF Paragwroid dey reef: be @ SOltos)® ja 2 years| | 4. The cost (in dollars) to produce 2 floor tiles is | O(a) = 1500+ 2.502. | Graph the cost function. Your graph should show the missing ticks marks and the y-intercept. (oti dliace ee cf jooe) = 1SVO +2 foo) | | | | ° amber of ee ‘© {09 200 300 400 00 600 700 800 900 1000 5. The graph of f(z) — —2z*— 2 +4 is a parabola. Answer the following questions: a. Does the parabola opens up or down? ¢ Qs WA | b. What are the coordinates of the vortex? a: \ (eetege ee) ¢. The function f(2) has a minimum C maximum 7 check one bax). |6. The revenue from selling z file cabinets is given by a function R(x). Revenue is in dollars. (a) Give a summary statement for (10) = 92. Be sure to include the proper units in your tabement, Summarys peyenue fra celia io fle @teacds is £ 42. : (b) Give a summary statement for A’(10) = 5. Be sure to include the proper units in your Jatement. ‘Summar; : Ths mevgiual Micaue heen feel yt Ple Ghia rusher of 10 is HO por ple Cave l- 7. ‘The revenue, in dollars, from selling a electric guitars is given by a funetion R(x) = 1002 - a? (a) What ist the change in revenue if the sales level changes from 10 to 12 guitars? ‘Answer with tinits: g¢ ist Riz) s1o0fid- 44 = 10 SE at Rfie) = foof te) ~foo > 900 3}(b) What is the average rate of change in revenue if the sales level changes from 10 to 12 guitars? ‘Answer with units: NIP por Geter (0) Find the instantaneous rate of change in revenue at a sales level of 5 guitars. ‘Answer with units: YO ter gate, Bl) = 100 -2x 8. Widget General reports their monthly revenue, R(z), for sales of mini-widgets, where « is in hundreds of widgets and R is in dollars, (a) Interpret this statement: (20) = 860 Summary veyeune. Poa Sell is 8&0. hi 4 2000 wi cl ae(b) Write the following statement in symbolie form: At a sales level of 2000 widgets, the revenue is increasing at a rate of $3 per 100 widgets Rito )=8 Symbolic form: (Zo (0) On the basis of these results, what would be your estimate for the revenue of producing 2100 widgets? Summary: (7. ¢ esHhurated 16 VTAUE dp Aoxb IZ {OO widgee is # S83 « 6 Onis 9. Let f(x) = 2? + de —5. S@+h)— fa) h a, Simplify the expression ‘Simplified expression: at 44h kb) 44 4(x+u)- 4 deh + het 4x HAS ae (x fy Gx ~ s) xe bx AS Zehr er+a ay the4 hb, Find the limit fing £24") = F(@) h0 h iy EHDIO_ 2 x ao 10. Find the derivatives of the following fictions. (@) Fle) = 82? +52 + 100 (® 2EX+4+57 A 2 a (0) o(a) = Va" —a (Do not simplify) , @) =(2x eal) j Eee uHEEL fates eae qm) = x [2xs-x) 2 . (6x*- ) © r(z)= 2 (Simplify.) \ 3 (2x45) - 2[3x~2 xt ~Ex rts) = | 2 Tare aeuds 9 (ax 45)*1. (a) What is the slope of the line tangent to the graph of h(a) h'po- —2 x4 3 ~a? +30 at the point (1, A(1))? 8 | ‘ , ul) clot of Ha tangent tru af (1) is f ‘The average cost, in dollars, to produce x smoke detectors is 1000 + 5a Oz) = a. What is the average cost if 100 smoke detectors are produced? ‘Average cost for 100 detectors, with units: € it por cucote cle b. Graph the average cost function, C(). Mark the horizontal asymptote and the point corre- sponding to a production level of 100 detectors. (The point corresponding to a production level of 200 detectors is shown on the graph.) 10 |Average Cost 50 Ty 40 + | | 30 +} 1 | | 20 10 ee a Number of smoke detectors 100-200 «300 «400-600-600 12, Dunder Mifflin manufactures paper. Producing 2 bales of paper has a fixed cost of $140 and a. variable cost of $16 per bale, The price demand function is expressed by p(z) = 190 —2r, where (a) 38 the price (in dollars) at which x bales of paper can be sold. (a) Write a formula for the revenue function, R(2). R@)= X (b) Write a formula for the cost function, O(c). o@=|40 + /6 x | Ty13, BronKo grows and sells bales of hay for horses. are shown below. (a) Do each of the following: i, Mark the break-even points. ‘Tho graphs of the revenue and cost functions ii, Find the approximate coordinates of the break-even points, iii, Mark a vertical line segment on the graph whose length represents the maximum profit and ostimate the maximum profit. Revenue, Cost 1000) 100 «00 400 200] a 0 20 30 Namer oF tes 4 Coordinates of the break-even points: (2) 150) , (26,725) (b) On the graph below, graph the cost fumetion if fixed costs rise by $100. 2 | Nanterof tls14, A car was purchased for $15,000 and is assumed to have a value of $7,000 after 10 years, Use linear interpolation to estimate the value of the car after 6 years. Value after 6 years: dl fo, Zoo Hoos - eon k ee ate) 10 is 600 ~ 6 (00) =I0, 200 15. The price-demand equation for selling telephones is +0.1p = 500, where w is the number of phones that can be sold at a price of p dollars (a) How many telephones can be sold at a price of $40 per telephone? Answer with units: 6 pli cut $ X = SO-OFp = IOO~ ou(40) yx 2 %0-F% x= 496 (b) Find a formula for the revenue R(p) P terms of the price p. 1316. Amazon Airlines charges passengers for baggage. The charge for bags weighing 40 pounds or less is $50. The charge for bags weighing moro than 40 pounds but less than or equal to 80 pounds is $100. The charge for bags weighing more than 80 pounds is $125 plus $1 for each pound over 80. ‘The graph below shows the charge, H(r) that a passenger pays for a bag weighing « pounds. Cures 209) i15|— 130 bas} 100 0 40 0 19 Baggage weight 7 Baeusee weet a. What is the charge for a bag weighing 80 pounds? Charge for bag weighing 80 pounds: f Wo b. What is the charge for a bag weighing 100 pounds? $145 (Change for bag weighing 100 pounds: j2 + 1f(00 -#e) i205 420 ©. For which value(s) of « is the payoff function discontinuous? Discontinuous: X= 40, 0 4, Find the limit lim. s40 H(2) if it exists. If it does not exist, write DNE in the answer box Tinto HH (x) PNE u“17. Matador Wireless offers a data plan that charges $10.00 a month for access, with no additional charge if usage is at or below 75 MB. If a customer exceeds 75 MB of data, they are also charged 10 cents for each MB above 75. If a customer exceeds 125 MB of data, they are charged 40 cents for each MB above 125. {a} What is the monthly cost to store 125 MB of data? ‘Answer with units: Feri io + 0.t fizr~?5) G IS.00 \ 0 + 0.1 (80) a (b) Write the formulas for the piecewise definition of the cost function C(x) for storing » MB of dats a month. Fill in the boxes for the piecewise definition for the cost C(x) of storing & MB of data a month. 10 Hoses(3rq o@)=4 [io Q10[x~75) eile 154 /o.40)(X-(25) | ##>[12. (©) Graph the cost function. | ‘Monthly cost 0 | | + | 10 ° 0 100 | 150 200 15 i18. AnselPix is an on-line company that sells photographs of National Parks. ‘The profit from selling & prints of a scene in Arches National Park is P(x) dollars. AnsolPix believes that the profit from selling 100 photos will be $22,000. Assume that the marginal profit is P'(100) = —1500. (a) Use the marginal profit to estimate the profit if the mumber of prints changes from 100 to 101 prints. Profit wih units: G20, 560 22.000- [S00 = 20, SOO {b) As AnselPix’s financial advisor, would you recommend that they sell more or fewer than 100 prints? Why? L Why? Sel Fewer’ than (OO qrowtd PCTRge q Heuer priats asl iucreace profil by Ah? $ Z 19. Vance Refrigeration company manufactures refrigerators. The revenue function is (a O00 - Re) = 20002 — 1002, RCS ) -Gg00 - 100 syoo whore R(c) is measured in dollars, and x is the weekly demand for refrigerators. ‘The cost of weekly production and delivery of « refrigerators is O(a) = 150 + 12002 CB) 21Sb+ (2003) where C(x) is measured in dollars. 3FLO (a) What is the profit if Vance produces and sells 3 refrigerators in a week? Profit with unite: E at i “7 P(g) = Vfow- Z7TO 4 (850 16(b) Find the weekly production/sales level that maximizes profit, Answer with units: , 4 refrigerators pad opel ; i f 5 2 y= 200 C(x) = 1260 2000 - Z00X = (200 200 X -— £00 x= (c) If the production costs increase by $200 per refrigerator, then the weekly production/sales level that maximizes pyofit will O increase decrease D remain the sane, 200 20. Consider the revenue function R(x) = 250 — 2? for selling x widgets. Revenue is in dollars. a, Find the change in revenue when the sales level changes from 7 = 10 to «= 20. d 22 06 ‘Change in revenue (include units) Rize) 2 ast{2 )- 20°=4600 Blo) = 2:ete)~ 10%. 2400 b. Find the average rate of change of revenue for this change in sales levels, 2200 20-10 10 2200 a - 22 s Average rate of change in revenue (indude units) ~ 6 220 por witlg wv21. ‘The number of miles that a new car can travel on + gallons of gas is M (sr), ‘What are the units for the derivative M(x)? 22, The price-demand equation for hamburgers at a fast-food restaurant is x -+ 400p ~ 2000, where ris the number of hamburgers sold, and p is the price in dollars X 2 Zabo ~ $0%p (a) Find the elasticity of demand B¢p). |Z) p) = TPA) a (b) Find £(2). | #2) = Wp (c) When the price igyp = $2, is the demand elastic, inelastic, or unitary? Ci elastic Seta Dunitay / Price with units: (d) For what price p is the elasticity of demand unitary?| ¢f 5 = 2:60 pee i. o-p 18(¢) Suppose the price increases by 1.5% from $2 per hamburger. Use the elasticity of demand to ‘estimate how the demand changes, Express your answer as a percentage and state whether demand increases or decreases. Summary: ff die pre fucscaces by 1K prow 2 pry one : : ea Bu ° burger, {hy Aciwwarncl will go Anwh by abut | 1%e' ; - fis) =| 1923, Perform the following matrix calculation: [3sleeafi)- [3 21-2 O% Se) uu 24, Solve the following system of equations using any method. To receive credit, you must: get the right answer, show your work, and show that your answer checks. Sax + 2y = 22 ~2( + ve 2 (-2) HE Cite 2a 212 ta Ax -Ly 4 \ 4x 218 on xed r- 6 -2(z)+4=2 ~4 4G = a a25. Solve the following system of equations using any method. To receive credit, you must get the right answer, show your work, and show that your answer checks. 26. da + 3b - c + 2d 4 sb- e+ d=- b+e — mW 0 4a 4-l-224 DizzyLand and MountainMagic are theme parks that operate several roller coasters. To run their rides, they hire bohind-the-scones Technicians that test the tracks and coasters, ride Operators that secure passengers at the take-off point, as well as line Coordinators that assist guests? transition to the ride while waiting in line. Here are the labor-hour and wage requirements for operating two roller coasters, Olympus Bobsleys and Space Hill, that each park happens to feature: Labor Requirements (in hours) “Technicians | Operators | Coordimators ‘Olympus Bobsleys T 8 a ‘Space Hill i 4 6 Wage Requirements (in dollars per hour) DizayLand | MountainMagic Technicians | _40 30 ‘Operators 15 10 Coordinators | 12 g a‘The labor-hours and wage information is summarized in the following matrices: 40 30 M fetal w-| 15 10 12 8 (a) Compute the missing entries of the matrix product MN. ee un | (AZ (ae) fo) + 4) wm Ag 264 #0432 42 1 (Be) 4 alto) + é(e) Zo t4O44H He (b) What is the (2, 1)-entry of matrix MN? (c) The (1, 1) entry of MI is 208. Interpret the moaning of this in a summary statement. Bomar Cosds ff 20K Yo ran Of, wpe Bobsieys al Dizeyle 22