Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A golf ball manufacturer knows the cost associated with various hourly production levels, given below. Production Costs for Golf Balls Production (hundred balls b) Cost
A golf ball manufacturer knows the cost associated with various hourly production levels, given below. Production Costs for Golf Balls Production (hundred balls b) Cost (dollars ) 2 257 5 365 8 427 11 493 14 534 17 562 20 628 hundred balls, with data from 2 sb s 20. (Round all (a) Write the function for the cubic model that gives the production costs for golf balls in dollars where is the hourly production level numerical values to three decimal places.) C(b) = dollars (b) If 1000 balls are currently being produced each hour, calculate the marginal cost at that level of production. (Round your answer to three decimal places.) $ per hundred balls Interpret the result. (Round your numerical answer to three decimal places.) At an hourly production level of 1000 golf balls, production cost is ---Select--- by $ per hundred golf balls. (c) Construct the function for the model that gives average cost in dollars per hundred balls where b is the hourly production level in hundred balls, with data from 2 sbs 20. (Round all numerical values to three decimal places.) (b) = dollars per hundred balls (d) Calculate the rate of change of average cost for hourly production levels of 1000 golf balls. (Round your answer to three decimal places.) $ per hundred balls per hundred balls Interpret the result. (Round your numerical answer to three decimal places.) At an hourly production level of 1000 golf balls, average production cost is ---Select--- by $ per hundred golf balls per hundred golf balls. A golf ball manufacturer knows the cost associated with various hourly production levels, given below. Production Costs for Golf Balls Production (hundred balls b) Cost (dollars ) 2 257 5 365 8 427 11 493 14 534 17 562 20 628 hundred balls, with data from 2 sb s 20. (Round all (a) Write the function for the cubic model that gives the production costs for golf balls in dollars where is the hourly production level numerical values to three decimal places.) C(b) = dollars (b) If 1000 balls are currently being produced each hour, calculate the marginal cost at that level of production. (Round your answer to three decimal places.) $ per hundred balls Interpret the result. (Round your numerical answer to three decimal places.) At an hourly production level of 1000 golf balls, production cost is ---Select--- by $ per hundred golf balls. (c) Construct the function for the model that gives average cost in dollars per hundred balls where b is the hourly production level in hundred balls, with data from 2 sbs 20. (Round all numerical values to three decimal places.) (b) = dollars per hundred balls (d) Calculate the rate of change of average cost for hourly production levels of 1000 golf balls. (Round your answer to three decimal places.) $ per hundred balls per hundred balls Interpret the result. (Round your numerical answer to three decimal places.) At an hourly production level of 1000 golf balls, average production cost is ---Select--- by $ per hundred golf balls per hundred golf balls
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started