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Homework Assignment: QUADAP

To be graded all homework must be typed and submitted in one file or document

Please solve the following problems as instructed. Please cut and paste any tables that you create into MS Word and attached your MS-Excel files and MS Word files to the folder.  Please note that all your MS-Excel solutions must be in one MS-Excel file and all your MS-Word problems and solutions must be in one MS-Word file. If you attach multiple files, only one file will be graded and this will compromise your performance in this and all homework problems.

1. (Solve by Factoring or Quadratic Formula) A cell phone company has the following cost and revenue functions: C(Q) = 8Q2 – 600Q + 21,500 and R(Q) = −3Q2 + 480Q. Using MS Excel, what is the range of cell phones they should produce each day so there is profit? round to the nearest number that generates profit. Explain why there are two output levels for break even.
2. (Must use MS Excel) A laptop company has discovered their cost and revenue functions for each day: C(Q) = 3Q2 – 10Q + 200 and R(Q) = −2Q2 + 100Q + 50. If they want to make a profit, what is the range of laptops (Q) per day that they should produce? Round to the nearest number which could generate profit.
3. Abercrombie and Fitch’s stock had a price given as P = 0.2t2 − 5.6t + 50.2, where t is the time in months from 1999 to 2001. (t = 1 is January 1999). Use MS Excel to find the two months in which the price of the stock was $31 or $30.
4. The cost function for a certain company is C (Q) = 60Q + 300 and the revenue is given by R = 100Q − 0.5Q2. Recall that profit is Revenue R(Q) minus cost C(Q)è R(Q) – C(Q).
5. Set up a quadratic equation and
6. Solve the quadratic equation to find the breakeven output (Q).
7. What does the second breakeven point indicate?
8. Is that the output level that maximizes profit for the company?
9. If not, at what output level (Q) will the company’s profit be a maximum?

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