# Statistics and Quantitative Analysis

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1. Given the following revenue and cost function for a business firm, calculate the break-even quantity, total revenue, total cost and total profit at break-even level of production.

revenue function R = F(Q) = 4q

total cost C = F(Q) = 12 + 2q

2. Given the following revenue and cost function for a business firm, calculate the break-even quantity, total revenue, total cost and total profit at break-even level of production.

total revenue R = f(q) = 30q

total cost C = 100 + 5q + q squared

a. Find the first derivative using the limits formula [dy/dx lim x-0]

b. Calculate the maximum profit at the profit maximization level of production

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##### Solution Summary

Statistics and quantitative analysis for revenues and cost functions are examined.

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1. Given the following revenue and cost function for a business firm, calculate the break-even quantity, total revenue, total cost and total profit at break-even level of production.

revenue function R = F(Q) = 4q

total cost C = F(Q) = 12 + 2q

Solution. To find the break-even quantity, we let R=C. So,

4q=12+2q

So, q=6

When q=6, we have

...

###### Education

- BSc , Wuhan Univ. China
- MA, Shandong Univ.

###### Recent Feedback

- "Your solution, looks excellent. I recognize things from previous chapters. I have seen the standard deviation formula you used to get 5.154. I do understand the Central Limit Theorem needs the sample size (n) to be greater than 30, we have 100. I do understand the sample mean(s) of the population will follow a normal distribution, and that CLT states the sample mean of population is the population (mean), we have 143.74. But when and WHY do we use the standard deviation formula where you got 5.154. WHEN & Why use standard deviation of the sample mean. I don't understand, why don't we simply use the "100" I understand that standard deviation is the square root of variance. I do understand that the variance is the square of the differences of each sample data value minus the mean. But somehow, why not use 100, why use standard deviation of sample mean? Please help explain."
- "excellent work"
- "Thank you so much for all of your help!!! I will be posting another assignment. Please let me know (once posted), if the credits I'm offering is enough or you ! Thanks again!"
- "Thank you"
- "Thank you very much for your valuable time and assistance!"

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