Reference no: EM132695226

MASC-B 1001.1 Business Mathematics and Statistics - Middle East College

Learning Outcome 1: Construct a linear cost, revenue and profit functions and conduct breakeven analysis also able to solve the problems in supply-demand equations and applications in revenue.

Learning Outcome 2: Compute interest and perform annuity calculations.

Learning Outcome 3: Calculate summary measures.

Assignment Objective

To be able to solve problems in application of linear and quadratic functions. In addition to be able to compute interest and perform annuity calculations. Moreover, to perform different statistics measure on data.

Assignment Tasks

Task 1: Answer the following:

MEC charter a bus which holds at most 45 people to go to an educational tour in a museum. The bus company requires at least 30 people to go. It charges R.O. A per person if up to 40 people go. If more than 40 people go, it charges each person R.O. A less 0.2 times the number more than 40 who go. Find the total cost as a function of the number of students who go.

Task 2: Answer the following:

Hamed own a local gold market that currently has B?? subscriber in Instagram at a quarterly charge of R.O. A. He notices that if he raises the price of his commodity to R.O. (A + 4), he will lose B subscriber. Assuming that subscriptions are linearly related to the price, what price should Hamed charge for a quarterly subscription to maximize his revenue?

Note that B is last four-digit number, ?? is last three-digit number and A is first two-digit number (before English alphabet letter) from your MEC ID.

Task 3: Answer the following:

a. Waleed wants to find out the annual rate of interest, will a principal RO ?? to amount to RO B in A years?

b. Saif is planning to buy a house in A years. He wants to invest RO ?? now and hopes to have RO B to spend on the house when he buys it. What kind of interest rate would he need if his investment is compounded monthly?

c. By using Excel, solve the following: (Note provide a screenshot of your work)
If you have R.O. B and you want to make a small business that will provide you a steady income for A year. Currently, banks are paying A % compound interest on the annual basis. How much would you be able to receive at the end of each year?

Task 4: Answer the following:

Get a monthly weather forecast for a country in a year (Note: Select a country that start with the first letter of your middle name) including temperature, the percentage of humidity and the average rainfall (hint: you can use the website or weather app). Represent your data in a table as illustrated down then find the followings:

a. Find the Median of the temperature.
b. Compare the dispersion between the humidity and average rainfall.
c. Relationship between the temperature and average rainfall by correlation coefficient.

Attachment:- Business Mathematics and Statistics.rar