# Mathematical Modelling; Modelling Cycle

Not what you're looking for? Search our solutions OR ask your own Custom question.

Consider the following situation: {see attachment}

Develop a mathematical model which describes the contractors profit from the days work [a very simple model will do]. Then show how, using the modelling cycle, this model might be revised into a sequence of successively more sophisticated mathematical models, which show how the logging contractor might determine whether such jobs are truly worth doing.

https://brainmass.com/math/consumer-mathematics/mathematical-modelling-modelling-cycle-28537

#### Solution Preview

Please see attached file

If the net taking is x dollars, then on the basis of 2003 expenses, operational costs = 75% of x = 0.75x

Profit = x - 0.75x = (1 - 0.75)x = 0.25x

This is ...

#### Solution Summary

The expert examines mathematical modeling and modelling cycles.

$2.49