Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The annual profit P (in dollars) of nursing homes in a region is given by the function P(w, r, s, t) = 0.008359w- 0.657

image text in transcribed

The annual profit P (in dollars) of nursing homes in a region is given by the function P(w, r, s, t) = 0.008359w- 0.657 1.092 0.8122.455 where w is the average hourly wage of nurses and aides (in dollars), r is the occupancy rate (as a percentage), s is the total square footage of the facility, and t is a number between 1 and 11 that measures the reimbursement rate in the region. A certain nursing home has nurses and aides with an average hourly wage of $19 an hour, a reimbursement rate index of 10, an occupancy rate of 85%, and 410,000 ft of space. a) Estimate the nursing home's annual profit. The nursing home's annual profit approximately $ . (Do not round until the final answer. Then round to the nearest dollar as needed.) b) Find the four partial derivatives of P. (Simplify your answer. Use integers or decimals for any numbers in the expression. Round to six decimal places as needed.) dr = (Simplify your answer. Use integers or decimals for any numbers in the expression. Round to six decimal places as needed.) (Simplify your answer. Use integers or decimals for any numbers in the expression. Round to six decimal places as needed.) 25 at = (Simplify your answer. Use integers or decimals for any numbers in the expression. Round to six decimal places as needed.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Algebra advanced algebra with financial applications

Authors: Robert K. Gerver

1st edition

978-1285444857, 128544485X, 978-0357229101, 035722910X, 978-0538449670

More Books

Students also viewed these Mathematics questions