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Greetings tutor, I need your help with questions 6 to 8. I've attached the previous questions and my answer to those questions below for your
Greetings tutor, I need your help withquestions 6 to 8.I've attached the previous questions and my answer to those questions below for your kind reference. Thank you
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1. You have an idea. To cut down on storage costs you will print the book in two print runs of 600,000 each, as shown in the figure below. 600,000 500,000 Average 400,000 number Books in stock in stock 300,000 200,000 100,000 O 0 1 2 3 4 5 6 7 8 9 10 11 12 Month A) What are the setup costs for two print runs? B) What are the production costs? C) What are the storage costs? D) What is the total cost for the year?3. Recreate the table below in your write-up. Fill in the missing entries in the table below. One or more of the missing entries will be expressions involving the variable, X. Cost Category Information Total for in dollars Setup Costs x print runs @ $5,000 per run Production Costs 1,200,000 books @ $1 per book Average Number of 1,200,000/x/2 = books in Stock per month 1,200,000/(2x) Average number of Storage Costs books in stock per month @ 14 per month for 12 months Now add up the totals in the right-most column and thus create the total yearly cost function, C(x): C(x) = (Fill in)4. Check your cost function. Fill in the missing entries in the table below. Including your work In Problem #2 above. Recreate the table below In your exam write-up. If your cost function is correct, you should get the values in the table for x = 1, 2, and 12 (result from Problem #2). - s 1 277 000 .- $ 1 246 000 5. Compute the derlvetlve of your cost function. 6. Use the methods of calculus to nd the (absolute) minimum cost over the Interval (0, m') [We can't let x = Din our cost function; do you see why?]. include a sign analysis for the derivative function. Show ALL work In computing the critical points. Be sure that you explain why any relative minimum you nd is also an absolute minimum (since this does not automatically follow). Round nal values to 2-declmal places. Recreate the summary table below (with entries lled in) as part of your write-up for this part. x-values of critical -oints x-value resulting In absolute minimum cost over the interval (0, mt) (2-decimal . laces Absolute minimum cost (round to nearest . enn 7. Graph the cost function over the interval [0. 12] using W or other software (not by hand). Include the graph for your work in the problem. Also, mark the absolute minimum point on the graph, rounding the x- and y- values to 2-decimal places. Choose a vertical scale that allows the reader to see that there Is clearly a minimum at your critical point. 8. We can't print a non-integer number of print runs in reality so in the real world It must be an integer. Evaluate your cost function and determine the integer number of print runs that minimize total yearly costs. Show what values you computed in determining your minimum yearly cost; you should consider the Integers on both sides of your critical point. How many (Integer) print runs should we make per year? What will be the (minimum) total yearly costs for this number of runs? State nal answer in sentence form. How much more do we have to pay If we use an Integer number of print runs to minimize costs as compared to if we could do any decimal (fractional) number of print runs? Q1 ) a. setup cost of two pint MrS: 5000X2 = $ 10/000 b, production costs: 120000 x 1 = $120, 000 C. storage costs : storage costs $72000 - $ 72000 will be haved 2 d , total cost for - $36,000 the year : 10/000 + 120,000 + 36,000 = $1, 246, 000. Q2 ) b. setup cost for 12 print runs: 5000x 12 - $60, 000 C. production costs: 1, 200,000 x 1 - $1/ 200, 000 D. storage costs : 16 perbook x 50,000 books X 12 months - $61 000 C. Total costs: $601000 + $1200000 + $ 6000 = $1/260, 000 Q3 Cost category Information total for in dollars Setup costs $ 5000 per run production cust 1/200, 000 bunks @ 1 $ 1200 000 per book Average number of 1/ 20 01 000 / 4/2 = books in stuck per north 1/200 1 020 ( 2X ) storage costs books instore per $ 32000 month for 12 months Total yearly cost : function CCX ) = 5000 x + 1200000 + 9200%Step by Step Solution
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