Reference no: EM132517091

MASC-B 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

Question 1. A firm sells a product for RO 56 per unit. Variable cost per unit is RO 14 for materials and RO 17.75 for packing departments. Annual fixed costs are RO 2000. Find the following:
a. The total cost function.

b. The profit function. What profit is earned if 300 units are sold.
c. The number of units in order for the firm to break even.
d. If at least 1000 units be sold daily, what price should the firm charge per unit to guarantee no loss.

Question 2. A shop manager gets 4 rials for every units sold by salesman P and 5 rials for every units sold by salesman Q. His month fixed allowance is 32 rials. In addition to this salary, he will receive a bonus when combined sales from the two salesman P and Q exceeds 80 units. The bonus is 400 Baisa per unit for each unit over 80. Describe the salary function of the shop manager.

Question 3. If the demand function for a company is given by the equation q = 26 - 2p, and the supply function is given by the equation 8p = q + 4.
a. Find the equilibrium point.
b. Check the equilibrium point graphically.

Question 4. Ahamed deposit R.O 130 in a 8% account and compounded semi-annually. At the same time Salim deposit R.O 160 in a 6% account compounded annually. Find the time that will take for the amounts in the two accounts to be equal?

Question 5. A person is saving money at the end each week in order to accumulate a $25,000 down payment for a house. How much must this person deposit weekly into an account paying 13% compounded weekly if the down payment is needed in 5 years?

Question 6. Salim has two factories A and B and he wants to see which factory is more consistent. The following information was taken from the grouped data of 600 workers' in factory A.

∑f.x = 12100      ∑x² = 2040   ∑f.x² = 246920

While the information of factory B is given by the following data.

Classes	Frequency
10 - 20	110
20 - 30	99
30 - 40	101
40 - 50	105
50 - 60	97

Question 7. The table below shows the final marks in Mathematics and English obtained by 15 students selected at random from a large group of students.

Math (x)	75	80	93	65	87	71	98	68	84	77	90	88	93	92	97
English (y)	82	78	86	72	91	80	95	72	89	74	90	92	87	93	95

a) Obtain the relationship between the final marks in Mathematics and English by correlation coefficient.

b) Draw a scatter diagram for the data given in the table above.

Attachment:- Business Mathematics and Statistics.rar