Modern Business Statistics with Microsoft (R) Office Excel (R) (with XLSTAT Education Edition Printed Access Card)
Master STK120 with Confidence! Stressed about acing your STK120 exams and tests? We've got the ultimate study pack to boost your understanding and exam performance. Our comprehensive collection of past STK120 tutorial papers and detailed memos provides valuable insights into exam format, key c...
Question 8 (TUT8B)
The coffee shop on campus offers breakfast on a daily basis. The coffee shop has a fixed cost of R800
per day and the breakfast ingredients amounts to R10 per plate of food. From experience the owner
knows that he sells 100 10𝑥) plates of breakfast per day when he charges R 𝑥 per plate.
a. The cost function for the coffee shop per day is:
𝐶𝑜𝑠𝑡 10 100 10𝑥 800 1000 100𝑥 800 1800 100𝑥
b. The number of plates of breakfast that maximises the coffee shop’s income is:
𝐼𝑛𝑐𝑜𝑚𝑒 𝑥 100 10𝑥 100𝑥 10𝑥 ∴ 100 20𝑥 ∴ 100 20𝑥 0 ∴ 𝑥 5
Question 10 (TUT 8B)
A Bakery bakes special bread on a daily basis. The bakery bakes x white breads and y brown breads
daily. The price of a white bread is 15𝑥 rand and the price of a brown bread is 12𝑦 rand.
It is known that the profit to bake x white and y brown breads are:
𝑥 𝑦
𝑃 𝑥, 𝑦 15𝑥 12𝑦
12 20
a. 15 15
𝜕𝑃 2𝑦 𝑦
12 12
𝜕𝑦 20 10
;
b. The interpretation of the marginal profit function 11, is:
Profit increases with R11 if an extra (24 to 25) white bread is baked, when the number of brown
breads stays constant at 30.
;
c. The interpretation of the marginal profit function 9, is:
Profit increases with R9 if an extra (30 to31) brown bread is baked, when the number of white
breads stays constant at 24.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller thembisilemagudulela. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $4.14. You're not tied to anything after your purchase.
