What is the linear cost function

Assignment Help Mathematics

Reference no: EM131012004

Your friend Herman operates a neighborhood lemonade stand. He asks you to be his financial advisor and wants to know how much lemonade he can make with the $3.27 he happens to have on hand. The only information he can give you is that once last month he spent $2 and made 19 glasses of lemonade, and another time he spent $5 and got 83 glasses of lemonade. You decide to use this data to create a cost function, C(q), giving the cost in dollars of making q glasses of lemonade.

a) You first decide to create a linear cost function based on this data. What is the linear cost function, and how much lemonade can Herman make according to this model?

Reference no: EM131012004

Questions Cloud

Find the angle of elevation : Howard is flying a kite and wants to find its angle of elevation. The string on the kite is 32 meters long and the kite is level with the top of a building that he knows is 28 meters high.

Problem regarding the crab claws : Reconsider the data on claw closing force and claw size for three species of crabs, shown in Exercise 7.22. Display 10.18 shows output from the least squares fit to the separate lines model for the regression of log force on log height.

At what speed is fuel economy greatest : The fuel economy (in miles per gallon) of a certain car is E(x) = -0.01x2 + 0.52x +10.4, where x is the driving speed (in miles per hour, 20 ≤ x ≤ 60). At what speed is fuel economy greatest?

Galileo data-brain weight : Why is horizontal distance, rather than height, the response variable?

What is the linear cost function : You first decide to create a linear cost function based on this data. What is the linear cost function, and how much lemonade can Herman make according to this model?

Estimate the cost of construction for this project : Estimate the cost of construction for this project. Assume the estimates are fully loaded, ie they include labor, materials, applicable indirect costs such as overhead, etc

Ingestion rates of deposit feeders : Aquatic deposit feeders are organisms that feed on organic material in the bottoms of lakes and oceans. Display 9.21 shows the typical dry weight in mg, the typical ingestion rate (weight of food intake per day for one animal) in mg/day, and the p..

What is the average rate of change in the noise level : Freeway noise lessens as the distance from the freeway increases. What is the average rate of change in the noise level as you go from 70 to 90 yards away from the freeway?

Find parametric equations for the lone : Find parametric equations for the lone in which the two planes intersect. Find an equation of the plane that is perpendicular to the two planes and containing the point (5, 1, -2).

User Account

All Pages