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Quantitative graphs

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2003 MLB Salaries by Team
TEAM TOTAL PAYROLL AVG SALARY MEDIAN STD DEV
New York Yankees
$ 152,749,814 $ 5,455,350 $ 4,575,000 $ 4,781,135
New York Mets
$ 117,176,429 $ 4,040,566 $ 1,300,000 $ 4,893,080
Atlanta Braves
$ 106,243,667 $ 3,934,950 $ 800,000 $ 5,063,167
Los Angeles Dodgers
$ 105,872,620 $ 4,072,023 $ 2,605,833 $ 4,757,867
Texas Rangers
$ 103,491,667 $ 3,449,722 $ 1,150,000 $ 5,077,721
Boston Red Sox
$ 99,946,500 $ 3,701,722 $ 2,000,000 $ 4,789,932
Seattle Mariners
$ 86,959,167 $ 3,220,709 $ 3,150,000 $ 2,831,818
St. Louis Cardinals
$ 83,786,666 $ 2,702,795 $ 900,000 $ 3,033,796
San Francisco Giants
$ 82,852,167 $ 3,186,621 $ 1,937,500 $ 3,508,745
Arizona Diamondbacks
$ 80,657,000 $ 3,226,280 $ 1,750,000 $ 3,776,930
Chicago Cubs
$ 79,868,333 $ 2,852,440 $ 1,125,000 $ 3,642,763
Los Angeles Angels
$ 79,031,667 $ 2,927,098 $ 1,000,000 $ 3,462,696
Baltimore Orioles
$ 73,877,500 $ 2,547,500 $ 1,200,000 $ 2,868,105
Houston Astros
$ 71,040,000 $ 2,732,307 $ 1,200,000 $ 3,599,126
Philadelphia Phillies
$ 70,780,000 $ 2,440,689 $ 850,000 $ 3,132,219
Colorado Rockies
$ 67,179,667 $ 2,239,322 $ 550,000 $ 3,408,789
Cincinnati Reds
$ 59,355,667 $ 2,119,845 $ 694,000 $ 2,898,726
Minnesota Twins
$ 55,505,000 $ 2,134,807 $ 750,000 $ 2,445,294
Pittsburgh Pirates
$ 54,812,429 $ 1,957,586 $ 825,000 $ 2,444,518
Washington Nationals
$ 51,948,500 $ 1,998,019 $ 333,500 $ 2,781,455
Toronto Blue Jays
$ 51,269,000 $ 1,898,851 $ 600,000 $ 3,727,071
Chicago White Sox
$ 51,010,000 $ 1,961,923 $ 475,000 $ 2,677,830
Oakland Athletics
$ 50,260,834 $ 1,933,109 $ 1,032,500 $ 2,522,231
Detroit Tigers
$ 49,168,000 $ 1,891,076 $ 320,000 $ 2,953,777
Miami Marlins
$ 48,750,000 $ 1,805,555 $ 1,400,000 $ 2,082,520
Cleveland Indians
$ 48,584,834 $ 1,567,252 $ 330,000 $ 2,185,657
San Diego Padres
$ 45,210,000 $ 1,507,000 $ 555,000 $ 2,242,468
Milwaukee Brewers
$ 40,627,000 $ 1,400,931 $ 428,000 $ 1,975,028
Kansas City Royals
$ 40,518,000 $ 1,558,384 $ 313,500 $ 2,431,358
Tampa Bay Rays
$ 19,630,000 $ 785,200 $ 300,000 $ 1,577,777

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https://brainmass.com/statistics/descriptive-statistics/quantitative-graphs-524267

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Please find the converted chart and graphs in Excel. You can ...

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The expert creates two quantitative graphs for MBA salaries.

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Quantitative Excel Graphing Exercise: Drespie Corn Products

You are the new owner of Drespie Corn Products and Refineries. You are interested in your company's cost and revenue relationships as well as its future pricing strategies. Accordingly, you have developed the following relationships, which you believe to be accurate on the basis of historical data:

P = $50 - $0.005Q

TC = $73,500 + $6Q + $0.0006Q2

MR = $50 - $0.01Q

MC = $6 - $0.0012Q

where P is the price, Q the quantity, TC the total cost, MC the marginal cost, and MR the marginal revenue.

Tasks:

Using the Microsoft Excel Template given below, complete all the data in the template.
Use the following formula to calculate the profit-maximizing point: MR - MC = 0. Explain your answer.
Using the equation for MR (given below), calculate the revenue-maximizing level of output. Explain your answer.

MR = $50 - $0.01Q = 0
What is the difference between the output level where the total profit is maximized and the output level where the total revenue (TR) is maximized? What is the significance of these two values in the decision-making process?
Using Microsoft Excel, graph the data in the completed Template given below. Using the graph, identify the point where the total profit is maximized and the point where the TR is maximized. Explain your answers.

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