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Consumer Mathematics

Solve Equations About Ages

Refer back to Week One Discussion and use the names and ages of yourself and the other two people you selected. Make sure one is older than you and one is younger than you. In years, how old was the older person when you were born? Write an equation that models how old in years each of you will be, when your ages add up

Real World Math Problems with Percentages

1.) Jewelry Store: Amanda is a manager at a local jewelry store. When a customer purchases a diamond engagement ring, Amanda also suggests purchasing a pearl necklace as a gift for the fiancé's Mother. As a courtesy, Amanda discounts the necklace by 35% of the original price. From the cost, the engagement ring has a markup of 1

Simulation problem using software

Please see attachment for question. A small factory consists of a machining center and inspection station in series. Unfinished parts arrive to the factory with exponential times having mean of 2 minutes. Processing times at the machine are uniform on the interval [0.75, 0.80] minutes, and subsequent inspection times at the

Examine Egyptian fractions.

a. Show that any rational number a/b , between 0 and 1, can be written as an Egyptian fraction. b. Can an irrational number between 0 and 1 ever be expressed as an Egyptian fraction? Why? *c.* Show that any positive rational number a/b can be written as an Egyptian fraction.

Solve the difference equation.

A certain smoker has a daily intake of 0.02 milligrams of nicotine. It is assumed that 1% of nicotine is disintegrated by the body per day. Set up a difference equation for the amount of nicotine N_t after t days, starting with an initial level of N_0=0. Derive a closed form of the solution for N_t. If a concentratio

Supply and demand

Given the following demand and supply equations: Demand: Q=100 - 5P Supply: Q=20P 1. What is the equilibrium price? 2. What is the equilibrium quantity? 3. Using Excel and prices in the range of $1 to $10, generate the demand and supply schedules for the initial equations. 4. Use Excel to plot a graph of your

Mathematical model and computer simulation

1. What are mathematical models and computer simulations? 2. What are stochastic models and deterministic models? 3. What is convergence and numerical instability? 4. What are sensitivity analyses and uncertainty analyses?

Consumer Mathematics: Ratio and Proportion

1. Find the variation constant and an equation of variation where y varies directly as x, and y = 4 when x=39. 2. Find the variation constant and an equation of variation where y varies inversely as x, and y = 15 when x = 15. 3. [Hook's Law] The distance d, when a spring is stretched by a hanging object, varies directly a

Financial Calculations

Sales for Hanebury Corporation's just-ended year were $12 million. Sales were $6 million 5 years earlier. Suppose someone calculated the sales growth for Hanebury as follows: Sales doubled in 5 years. This represents a growth of 100% in 5 years; dividing 100% by 5 results in an estimated growth rate of 20% per year.

annual rate for this loan

Many tax preparation firms offer their clients a refund anticipation loan. (RAL) For a fee, the firm will give a client his refund is filed. The loan is repaid when the Internal Revenue Service sends the refund directly to the firm. Thus, the RAL fee is equivalent to the interest charge for a loan. The schedule in the table

Ratios, percents, interests, problem solving

1 If you drive 151.7miles on 8.2 gallons of gas, what is the simplified ratio of miles to gallons? 2 Solve the proportion for the item represented by a letter: 3 Solve the proportion for the item represented by a letter: 4 If two quarts of paint are needed for 75 ft of fence, how many quarts are needed f

US to Yen A television set sells for $1,000 U.S. dollars. In the spot market, $1 = 110 Japanese yen. If purchasing power parity holds, what should be the price (in yen) of the same television set in Japan? a. 80,000 yen b. 90,000 yen c. 100,000 yen d. 110,000 yen

A television set sells for $1,000 U.S. dollars. In the spot market, $1 = 110 Japanese yen. If purchasing power parity holds, what should be the price (in yen) of the same television set in Japan? a. 80,000 yen b. 90,000 yen c. 100,000 yen d. 110,000 yen

Network Flow Model and Optimal Solution

Management Science Problem An information system consultant who lives in Naperville, IL must spend the majority of the month of June 2010 onsite with a client in San Francisco. His travel schedule for the month is as follows. Leave Naperville Leave San Francisco Friday, June 4

Exercise Writing and Solving Functions

Exercises Section 2.1: Exercise 96 Solve each problem by writing and solving an equation. 96. World grain demand. Freeport McMoRan projects that in 2010 world grain supply will be 1.8 trillion metric tons and the supply will be only ¾ of world grain demand. What will world grain demand be in 2010? Section 2.2: Exercise:

Modelling - Population Growth

The following data represent the development of a certain population P in time t: [Please refer to the attachment for the table] a) Determine the best way to model the data, for example by a logistic model. b) Determine appropriate parameters for the model type choosen. c) Calculate the relative error of your model. d) Us

Rational Expression Word Problems: Estimate the Costs

Assistance with word problems needed. Please show steps to problems. Please see the attachment for proper formatting. Thank you in advance 120. Toxic pollutants. The annual cost in dollars for removing p% of the toxic chemicals from a town's water supply is given by the formula C(p) = 500,000 _______

ratios and proportions .

Choose an example of ratios and proportions from the textbook or real life and present a step-by-step solution. Choose an example of a rational expression (uniform motion problem, work problems, purchasing problems or formulas) from the textbook or real life and present a step-by-step solution. Explain how solving a prop

Gradient, Fraction and Sampling Word Problems

Please post all the steps for the problems below and number them accordingly so that I can follow along and understand the process. Thank you! 1. Rise and run. If the rise is 3/2 and the run is 5, then what is the ratio of the rise to the run ? 2. Fast food. If four out of the five doctors prefer fast food, then at a

Quantitative Reasoning

HardWood, Inc., produces and sells the finest quality pool tables in all of Madison County, Iowa. The company expects the following sales and expense in 2009 for its tables: Sales (1,000 tables @ $500 per table) $ 500,000 Variable expenses 200,000 Fixed expenses 60,000 A. What is the contribution margin

Solving Ratio and Proportion Word Problems

1. Rise and run. If the rise is 3/2 and the run is 5, then what is the ratio of the rise to the run? 2. New product. A taste test with 200 randomly selected people found that only three of them said that they would buy a box of new Sweet Wheats cereal. How many boxes could the manufacturer expect to sell in a country of

Ratio , Proportion and Measurement

Solve The Following Problems 1. Given that 1 acre equals 43,560 square feet, a rectangular area 1230 feel long by 675 feet wide is how many acres? 2. You plan to treat both sides of a roadway with 35 gallons of herbicide mix per acre. The treatment area is 2.6 miles long and the road shoulders are 35 feet wide. How much

Lesson Plan for Fraction Equivalency

I know that working with models helps students conceptually understand mathematics they might otherwise simply memorize and apply. I need help to develop a lesson plan in which students are taught to manipulate and work with two models that show fraction equivalency: one area/region model and one length/set model. 1. Have

Statistical Problem Solving: Stimulation

What is the role of simulation in statistical problem solving? Can you provide two examples of simulation in SPS? What are the limitations of stimulation in SPS?

Ratios and Proportions

**Please see the attached file for the fully formatted problems** Write each of the following ratios in simplest form. And explain your answer. The ratio of 7 oz to 3 lb

Mathematics - Functions and Graphs

The demand for a certain commodity is given by D(x) = -50x + 800; that is, x units of the commodity will be demanded by consumers when the price is p = D(x) dollars per unit. Total consumer expenditure E(x) is the amount of money consumers pay to buy x units of the commodity. a) Express consumer expenditure as a function

Several rational fraction problems

Please see attachment. #1. Multiply. Write your answer in lowest terms. #2. Multiply and simplify: #3. Divide. Write your answer in lowest terms. #4. Express the following compound fraction in lowest terms: 4 . 28 9 4 3 3 r s 2 7 pq 6 r 3 s