# IUB BUEX-C 531 - MATH 201. Test Review 3 (5 pages)

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# MATH 201. Test Review 3

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## MATH 201. Test Review 3

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Pages:
5
School:
Indiana University, Bloomington
Course:
Buex-C 531 - Introduction to Business Analytics

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MATH 201 Brief Calculus Review for Test 3 1 Find the number of units x that produces a maximum revenue 2 a R 500 x x b R 60 x 2 3 4x 2 Find the number of units x that produces minimum average cost per unit Round to the nearest whole unit C 0 12 x 2 15 x 3000 3 Find the price that will maximize profit for the demand and cost function where p is the price in dollars x is the number of units and C is the cost in dollars a p 80 x C 150 20 x b p 50 0 1 x C 35 x 500 4 5 a Find the amount s spent on advertising in thousands of dollars that maximizes the profit P in thousands of dollars b Find the point of diminishing returns 6 7 Simplify the expressions 4 3 12 5 5 a 2e5 3 b e 8 Sketch the graph of the following functions x x a f x 5 b g x 3e c 16 e 0 13 12 9 a Use the model to estimate the sales in 2010 b Use the model to estimate the sales in 2018 10 The current price of a car wash is 15 Use the model to estimate the price of a car wash in 10 years 11 On the day of a child s birth 500 is deposited in an account that pays 6 interest compounded continuously Determine the balance in this account on the child s 21 st birthday n r reff 1 1 n find the effective rate corresponding 12 Given the formula for the effective rate of interest to a nominal rate of 8 2 compounded a annually b semi annually c quarterly d monthly 13 How much should be deposited now in an account paying 9 5 compounded quarterly in order to have a balance of 25000 in 15 years 14 The average time between incoming calls at a switchboard is 3 minutes If a call has just come in the probability that the next call will come within the next t minutes is t P t 1 e 3 Find the probability of each situation a A call comes within minute b A call comes within 2 minutes 15 The cost of producing x units of a product is modeled by C 120 45 x 150 ln x x 1 a Find the average cost function C b Find the number of units that will give a minimum average cost Round your answer to the nearest whole unit 16 Differentiate each of the

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