University of Phoenix (Axia) - MAT117 Appendix C Solutions

Axia College Material

Appendix C

Polynomials

Retail companies must keep close track of their operations to maintain profitability. Often, the sales data of each individual product is analyzed separately, which can be used to help set pricing and other sales strategies.

Application Practice

Answer the following questions. Use Equation Editor to write mathematical expressions and equations. First, save this file to your hard drive by selecting Save As from the File menu. Click the white space below each question to maintain proper formatting.

1. In this problem, we analyze the profit found for sales of decorative tiles. A demand equation (sometimes called a demand curve) shows how much money people would pay for a product depending on how much of that product is available on the open market. Often, the demand equation is found empirically (through experiment, or market research).

a. Suppose a market research company finds that at a price of p = $20, they would sell x = 42 tiles each month. If they lower the price to p = $10, then more people would purchase the tile, and they can expect to sell x = 52 tiles in a month’s time. Find the equation of the line for the demand equation. Write your answer in the form p = mx + b. Hint: Write an equation using two points in the form (x,p).

A company’s revenue is the amount of money that comes in from sales, before business costs are subtracted. For a single product, you can find the revenue by multiplying the quantity of the product sold, x, by the demand equation, p.

b. Substitute the result you found from part a. into the equation R = xp to find the revenue equation. Provide your answer in simplified form.

The costs of doing business for a company can be found by adding fixed costs, such as rent, insurance, and wages, and variable costs, which are the costs to purchase the product you are selling. The portion of the company’s fixed costs allotted to this product is $300, and the supplier’s cost for a set of tile is $6 each. Let x represent the number of tile sets.

c. If b represents a fixed cost, what value would represent b?

d. Find the cost equation for the tile. Write your answer in the form C = mx + b.

The profit made from the sale of tiles is found by subtracting the costs from the revenue.

e. Find the Profit Equation by substituting your equations for R and C in the equation . Simplify the equation.

f. What is the profit made from selling 20 tile sets per month?

g. What is the profit made from selling 25 tile sets each month?

h. What is the profit made from selling no tile sets each month? Interpret your answer.

i. Use trial and error to find the quantity of tile sets per month that yields the highest profit.

j. How much profit would you earn from the number you found in part i?

k. What price would you sell the tile sets at to realize this profit? Hint: Use the demand equation from part a.

2. The break even values for a profit model are the values for which you earn $0 in profit. Use the equation you created in question one to solve P = 0, and find your break even values.

3. In 2002, Home Depot’s sales amounted to $58,200,000,000. In 2006, its sales were $90,800,000,000.

a. Write Home Depot’s 2002 sales and 2006 sales in scientific notation.

You can find the percent of growth in Home Depot’s sales from 2002 to 2006 by following these steps:

* Find the increase in sales from 2002 to 2006.
* Find what percent that increase is of the 2002 sales.

b. What was the percent growth in Home Depot’s sales from 2002 to 2006? Do all your work by using scientific notation.

The Home Depot, Inc. (2007, March 29). 2006 Annual Report. Retrieved from http://www6.homedepot.com/annualreport/index.html

4. A customer wants to make a teepee in his backyard for his children. He plans to use lengths of PVC plumbing pipe for the supports on the teepee, and he wants the teepee to be 12 feet across and 8 feet tall (see figure). How long should the pieces of PVC plumbing pipe be?

MAT/117

About the Solutions
Solution are created using MathType (as a Microsoft Word Document) and received a grade of 95%.

Question Files
MAT 117 Appendix C Solutions.pdf
MAT 117 Appendix C Solutions.doc

Other Details about the Project/Assignment
Subjects: Solving Polynomials
Topic: Polynomials
Level: College / University
Tags:

Axia, University of Phoenix, MAT117, MAT 117, Appendix C, Polynomials

Price: $6.95

Purchase and Download Solutions

Math Genius

Frederick Burke
	Member Since: March 2003 Customer Rating: 94.7% Projects Completed: 795 Total Earnings: *Private* +1 Ratings from clients: 115

Project Details

Question Files
MAT 117 Appendix C Solutions.pdf
MAT 117 Appendix C Solutions.doc

Subjects: Solving Polynomials
Topic: Polynomials
Level: College / University
Tags:

Axia, University of Phoenix, MAT117, MAT 117, Appendix C, Polynomials

Customer Reviews

Rated 6 Times
Rating

( 4.5 / 5 Stars)
(Click here to read more reviews)

Reviews of the solutions left by other users
No customer has left a detailed review for these math solutions. Be the first one to purchase them and leave a review for others!

Not exactly what you are looking for?
We regularly update our math homework solutions library and are continually in the process of adding more samples and complete homework solution sets. If you do not find what you are looking for, just go ahead and place an order for a custom created homework solution. You can hire/pay a math genius to do your homework for you exactly to your specifications.

Hire/Pay a math expert to do your math assignments, homework or online class

Hire/Pay a math expert to do your math assignments, homework, or online class

University of Phoenix (Axia) - MAT117 Appendix C Solutions

Axia, University of Phoenix, MAT117, MAT 117, Appendix C, Polynomials

Axia, University of Phoenix, MAT117, MAT 117, Appendix C, Polynomials