Purchase Solution

Mathematical Modelling; Modelling Cycle

Not what you're looking for?

Ask 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.

Purchase this Solution

Solution Summary

The expert examines mathematical modeling and modelling cycles.

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 ...

Purchase this Solution

Free BrainMass Quizzes
Solving quadratic inequalities

This quiz test you on how well you are familiar with solving quadratic inequalities.

Multiplying Complex Numbers

This is a short quiz to check your understanding of multiplication of complex numbers in rectangular form.

Probability Quiz

Some questions on probability

Exponential Expressions

In this quiz, you will have a chance to practice basic terminology of exponential expressions and how to evaluate them.

Geometry - Real Life Application Problems

Understanding of how geometry applies to in real-world contexts