Podcast
Questions and Answers
What is the revenue when $x = 5$ in the equation $y = 5x - 3$?
What is the revenue when $x = 5$ in the equation $y = 5x - 3$?
Considering the data set {(40, $9000), (10, $1250), (20, $5500)}, estimate the profit when 30 units are produced.
Considering the data set {(40, $9000), (10, $1250), (20, $5500)}, estimate the profit when 30 units are produced.
If the original price of the chicken bake is $3 and it is raised to $4, what does (x-y) represent in the revenue model?
If the original price of the chicken bake is $3 and it is raised to $4, what does (x-y) represent in the revenue model?
What is the cost of vanilla cupcakes represented by in the expression $r(v + 1) + (r - 5)v$?
What is the cost of vanilla cupcakes represented by in the expression $r(v + 1) + (r - 5)v$?
Signup and view all the answers
With a 10% sale on purchases under $50, how much will a cart total of $46 cost after the discount?
With a 10% sale on purchases under $50, how much will a cart total of $46 cost after the discount?
Signup and view all the answers
Which expression represents the total increased revenue after Costco's price hike?
Which expression represents the total increased revenue after Costco's price hike?
Signup and view all the answers
What is a potential reason for customers to prefer red velvet over vanilla cupcakes?
What is a potential reason for customers to prefer red velvet over vanilla cupcakes?
Signup and view all the answers
If the revenue function is $y = 5x - 3$, which of the following values of $x$ yields a negative revenue?
If the revenue function is $y = 5x - 3$, which of the following values of $x$ yields a negative revenue?
Signup and view all the answers
How much would you save if you bought an item for $4 at a checkout aisle with a 20% discount?
How much would you save if you bought an item for $4 at a checkout aisle with a 20% discount?
Signup and view all the answers
What is the percentage increase when the average used car price rises from $20,000 to $30,000?
What is the percentage increase when the average used car price rises from $20,000 to $30,000?
Signup and view all the answers
At a simple interest rate of 4%, how many years would it take for money to double?
At a simple interest rate of 4%, how many years would it take for money to double?
Signup and view all the answers
If you invest $100 at an annual interest rate of 12%, how much interest will you earn in 3 months?
If you invest $100 at an annual interest rate of 12%, how much interest will you earn in 3 months?
Signup and view all the answers
Which formula would be used to determine how long it takes for an investment to double with simple interest?
Which formula would be used to determine how long it takes for an investment to double with simple interest?
Signup and view all the answers
What is the formula to calculate the interest earned on an investment after a certain number of months at a monthly interest rate?
What is the formula to calculate the interest earned on an investment after a certain number of months at a monthly interest rate?
Signup and view all the answers
If the average used car price increased by $10,000, what was the original price?
If the average used car price increased by $10,000, what was the original price?
Signup and view all the answers
If an item costs $4 and you receive a 20% discount, what will be the final price after the discount?
If an item costs $4 and you receive a 20% discount, what will be the final price after the discount?
Signup and view all the answers
Study Notes
Problem 1
- Calculate revenue when x = 5, given the formula y = 5x - 3.
- Substitute 5 for x: 5(5) - 3 = 25 - 3 = 22
Problem 2
- Given data points (40, $9000), (10, $1250), (20, $5500).
- Estimate profit for 30 units produced.
- Using the data points, estimate a relationship. -An estimated profit for 30 units is ~$7000
Problem 3
- Costco increases chicken bake price to $4.
- Revenue modeled by (x-y)*(4-3).
- Find (x-y).
- Amount sold after, and original amount are not defined in the problem provided, so the question is incomplete.
Problem 4
- Store sells vanilla and red velvet cupcakes.
- Customers prefer red velvet more.
- Expression for cost of all vanilla cupcakes is (r-5)v.
Problem 5
- Marshalls has 10% sale below $50, and 20% sale over $50.
- Cart currently $46.
- Calculate savings if you buy a $4 item on the checkout aisle.
- Savings from 10% off on $46: $4.60
- Savings are $1.40
Problem 6
- Covid increased average used car price from $20,000 to $30,000.
- Calculate percentage increase.
- Increase: $10,000
- Percentage increase: 50%
Problem 7
- Calculate years until money doubles at 4% simple interest.
- The problem only indicates a simple interest calculation but does not contain an amount to be calculated hence incomplete.
Problem 8
- Bank with 12% annual interest, paid monthly.
- Calculate interest earned in 3 months with $100 initial deposit.
- 12% annual interest = 1% monthly interest
- Interest earned in 3 months = $3.03
Problem 9
- $5000 vehicle, 24% APR over 5 years.
- Calculate interest on first monthly payment.
- APR is 2% per month.
- Interest on first monthly payment: $100
Problem 10
- Loan with 36% APR, calculated monthly.
- Late payment, owed $2000.
- Monthly charge for the month is $60(3% of $2000).
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
Test your skills in solving various economic problems involving revenue, profit estimation, price adjustments, and discount calculations. This quiz covers topics relevant to understanding price dynamics in markets and consumer behavior. Get ready to analyze data and apply mathematical concepts to real-world scenarios!
