MAT540 Complete Course Week 1 to week 11
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MAT540 Week 1 Discussion
"Class Introductions" Please respond to the following:
Please introduce yourself, including your educational and career goals, as well as some personal information about yourself. In your introduction, please draw from your own experience (or use a search engine) to give an example of how probability is used in your chosen profession. If you get your information from an online or other resource, be sure to cite the source of the information
MAT540 Week 1 Homework
Chapter 1
1. The Retread Tire Company recaps tires. The fixed annual cost of the recapping operation is
$65,000. The variable cost of recapping a tire is $7.5. The company charges$25 to recap a tire.
a. For an annual volume of 15, 000 tire, determine the total cost, total revenue, and profit.
b. Determine the annual break-even volume for the Retread Tire Company operation.
2. Evergreen Fertilizer Company produces fertilizer. The company’s fixed monthly cost is $25,000, and its variable cost per pound of fertilizer is $0.20. Evergreen sells the fertilizer for $0.45 per pound. Determine the monthly break-even volume for the company.
3. If Evergreen Fertilizer Company in problem 2 changes the price of its fertilizer from $0.45 per pound to $0.55 per pound, what effect will the change have on the break-even volume?
4. If Evergreen Fertilizer Company increases its advertising expenditure by $10,000 per year, what effect will the increase have on the break-even volume computed in problem 2?
5. Annie McCoy, a student at Tech, plans to open a hot dog stand inside Tech’s football stadium during home games. There are 6 home games scheduled for the upcoming season. She must pay the Tech athletic department...