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Tutorial Letter 202/2/2017: Quantitative Modelling 1 DSC1520

This document contains solutions to an assignment on quantitative modelling. It includes solutions to 10 questions covering topics like exponential functions, logarithms, optimization, and modeling disease spread. Key details summarized include: - Question 7 finds the optimal production quantity for maximum profit is 2,500 units at a price of $27.50, giving a maximum profit of $212.50. - Question 8 finds the break-even point is at a production quantity of 2,000 units. - Question 9 models the spread of a disease and finds it would take about 18 days for the number infected to reach 1,000 people.

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Khathutshelo Kharivhe
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68 views6 pages

Tutorial Letter 202/2/2017: Quantitative Modelling 1 DSC1520

This document contains solutions to an assignment on quantitative modelling. It includes solutions to 10 questions covering topics like exponential functions, logarithms, optimization, and modeling disease spread. Key details summarized include: - Question 7 finds the optimal production quantity for maximum profit is 2,500 units at a price of $27.50, giving a maximum profit of $212.50. - Question 8 finds the break-even point is at a production quantity of 2,000 units. - Question 9 models the spread of a disease and finds it would take about 18 days for the number infected to reach 1,000 people.

Uploaded by

Khathutshelo Kharivhe
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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DSC1520/202/2/2017

Tutorial letter 202/2/2017

Quantitative Modelling 1
DSC1520

Semester 2

Department of Decision Sciences

Solutions to Assignment 2

Bar code
Dear Student
This tutorial letter contains the solutions to the second compulsory assignment. Please contact me if you
have any questions.
Kind regards

Dr Mabe-Madisa
Club One 4-12,
Hazelwood Campus,
Unisa
Tel: +27 12 433 4602
E-mail: [email protected]

2
DSC1520/202/2

Question 1

(a) Plotting these points gives the following:

(b) This is an exponential function.

Question 2

−x2 +6x−5 −(x2 −6x+5) −(x−5)(x−1)


(a) x−5 = x−5 = x−5 = −x + 1.

(b) The equation 5 + x = 4x2 − 4 + x simplifies to 4x2 − 9 = 0. Factoring gives (2x − 3)(2x + 3) = 0 resulting
in x = 1,5 and x = −1,5.

Question 3
ex (1+e1−x ) ex +e1−x+x ex
(a) e = e = e + 1 = ex−1 + 1.

(b) Solving the equation gives


√
3x 3x+1 = 9
2x+1 1
3 = 3
2x + 1 = 1
x = 0.

Question 4
8 3
(a) 8 ln 2 + 3 ln 8 − 2 ln 3 = ln 28 + ln 83 − ln 32 = ln 2382 = ln 14 563,55 = 9,59.

(b)
2 ln x − ln(x + 2) = ln x2 − ln(x + 2)
 2 
x
ln x+2 = 0
x2
x+2 = e0 = 1
x2 − x − 2 = 0
(x − 2) (x + 1) = 0
x = 2 or x = −1.

3
Question 5
15
b
(a) Turning point at x = − 2a = − 2×−3 = 15 2
6 = 2,5. The function value at this point is f (2,5) = −3(2,5) +
15(2,5) − 12 = 6,75. The coordinates are (2,5; 6,75).
(b) The roots of f are the x values for which f (x) = 0, that is −3x2 + 15x − 12 = (3x − 3)(−x + 4) = 0.
Solving this gives the roots of f as x = 1 or x = 4.

(c)

Question 6

(a) At equilibrium Pd = Ps . Therefore,


56
= 10 + 2Q
Q+2
(10 + 2Q)(Q + 2) = 56
10Q + 20 + 2Q2 + 4Q = 56
2Q2 + 14Q − 36 = 0
Q2 + 7Q − 18 = 0
(Q + 9)(Q − 2) = 0,
giving Qe = 2 or Qe = −9 which is not viable. From this we find Pe = 10 + 2(2) = 14.

(b)

Question 7

(a) From Q = 80 − 2P it follows that P = 40 − 0,5Q. Now, T R = P Q = 40Q − 0,5Q2 , T C = 15Q + 100,
and π = 40Q − 0,5Q2 − (15Q + 100) = −0,5Q2 + 25Q − 100.
OR
From Q = 80 − 2P, T R = P Q = 80P − 2P 2 , T C = 15Q + 100, and π = T R − T C = 80P − 2P 2 −
(80 − 2P ) = −2P 2 + 110P − 1 300.
−b −25
(b) Maximum profit is found at the turning point of the profit function, that is at Q = 2a = −0,5×2 = 25.
They should therefore produce 2 500 units for maximum profit.

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DSC1520/202/2

(c) The optimum price is P = 40 − 0,5(25) = 27,50 and the maximum profit is

π(27,50) = −0,5 (80 − 2P )2 + 25 (80 − 2P ) − 100


= −2P 2 + 110P − 1 300
= −2 (27,50)2 + 110(27,50) − 1 300
= 212,5

Question 8
√
(a) The profit function is π = 2Q − 4 + 6Q.

(b) Break-even is where T R = T C, that is


p
2Q = 4 + 6Q
2
4Q = 4 + 6Q
2
4Q − 6Q − 4 = 0
2Q2 − 3Q − 2 = 0
(2Q + 1)(Q − 2) = 0.

Break-even is at Q = 2, which means 2 000 units must be produced for the firm to break even.

(c)

Question 9
5 000
(a) Initially (t = 0) Q(0) = 2+1 249e0 = 3,996 ≈ 4 people had the disease.
5 000
(b) After 15 days Q(15) = 2+1 249e−0,33(15)
= 460,95 ≈ 461 people.

(c) Set Q(t) = 1 000 and solve for t,


5 000
1 000 =
2 + 1 249e−0,33t
2 000 + 1 249 000e−0,33t = 5 000
−0,33t 3 000
e =
1 249 000
3
−0,33t = ln = −6,0314
1 249
t = 18,277 ≈ 18 days.

5
Question 10

(a) From the roots we find f (x) = (x+3)(x−3)(x−4) = (x+3)(x2 −7x+12) = x3 −7x2 +12x+3x2 −21x+36 =
x3 − 4x2 − 9x + 36.

(b) The graph of f is

(c) Maximum at (−0,85; 40,15) and minimum at (3,52; −1,63).

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