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You are on page 1of 10

Final Exam

December 8, 2012

Name

Student ID # Section

HONOR STATEMENT

I arm that my work upholds the highest standards of honesty and academic integrity at the Uni-

versity of Washington, and that I have neither given nor received any unauthorized assistance on this

exam.

SIGNATURE:

1 12

2 13

3 9

4 16

5 11

6 9

7 15

8 15

Total 100

This exam consists of this cover sheet followed by 8 problems on 9 pages. Please check that you have

a complete exam.

You are allowed to use a scientic, non-graphing, non-programmable calculator and one sheet of

hand-written notes during this exam. The use of all other sources is prohibited.

Turn your cell phone OFF and put it away for the duration of the exam.

You may not listen to headphones or earbuds during the exam.

Unless otherwise indicated, you must show your work or write a few words to justify your answers.

Clearly show all calculations. The correct answer with no supporting work may result in no credit.

On problems that require you to work with a graph, show your work clearly by marking all lines and

points that you use.

If you use a guess-and-check method when an algebraic method is available, you may not receive full

credit.

Unless otherwise specied, you may round your nal answer to two digits after the decimal.

GOOD LUCK!

Math 111 Autumn 2012 1

1. (12 points)

16 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

2

4

6

8

10

12

14

16

18

20

22

24

26

28

30

quantity (hundreds of Objects)

d

o

l

l

a

r

s

p

e

r

o

b

j

e

c

t

MC

AC

You sell Objects. The graph above shows the marginal cost and average cost for producing q hundred

Objects.

(a) What is the lowest value of marginal cost?

ANSWER: dollars per Object

(b) What is the cost to produce the 301

st

Object?

ANSWER: dollars

(c) What is the break even price?

ANSWER: dollars per Object

(d) Objects sell for $22 each. Sketch and clearly label the graph of MR on the grid above and

compute the maximum possible prot.

ANSWER: hundred dollars

Math 111 Autumn 2012 2

2. (13 points) Here is the graph of distance traveled vs. time for a moving car driven by a reckless

driver.

80 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75

70

5

10

15

20

25

30

35

40

45

50

55

60

65

Time (minutes)

D

i

s

t

a

n

c

e

t

r

a

v

e

l

e

d

(

m

i

l

e

s

)

Car A

(a) There are two ten-minute intervals during which the average speed of Car A is 0.5 mpm. Find

the starting time of each interval.

ANSWER: earlier interval begins at t = minutes

later interval begins at t = minutes

(b) What is the lowest value of Car As average trip speed?

ANSWER: lowest ATS= mpm

(c) A second car, Car B, is next to Car A at t = 0 and travels at a constant speed of 0.9 mpm.

i. Draw and label Car Bs distance graph on the above grid.

ii. Find the time at which Car A is ahead of Car B by the largest distance.

ANSWER: t = minutes

iii. What is that distance?

ANSWER: miles

Math 111 Autumn 2012 3

3. (9 points) A group of retailers will buy 84 televisions from a wholesaler if the price is $375 and

124 televisions if the price is $325. The wholesaler is willing to supply 56 televisions if the price is

$315 and 136 televisions if the price is $405. The demand and supply functions are linear.

(a) Find the demand function. (Your answer should be in the form p = mq + b.)

ANSWER: p =

(b) Find the supply function. (Your answer should be in the form p = mq + b.)

ANSWER: p =

(c) Find the equilibrium point for this market.

ANSWER: (q, p) =

Math 111 Autumn 2012 4

4. (16 points) With the start of school approaching, a store is planning on having a sale on school

materials. They have a surplus of 600 notebooks, 400 pens, and 300 folders in stock, and they plan

on packaging it in two dierent forms.

A Fun Pack contains: 3 notebooks, 1 pen, and 2 folders.

A Writers Pack contains: 2 notebooks, 2 pens, and no folders.

Each Fun Pack will sell for $6.20 and each Writers Pack will sell for $4.00. Complete the following

steps to use the method of linear programming to answer the question: How many of each pack

should they put together to maximize revenue?

(a) Dene the variables:

x =

y =

(b) Give the formula for the objective function:

f(x, y) =

(c) Write down the inequalities that form your constraints.

(THIS PROBLEM IS CONTINUED ON THE NEXT PAGE.)

Math 111 Autumn 2012 5

(d) Graph the constraints and shade the feasible region.

100 200 300 400 500

100

200

300

400

500

x

y

(e) Compute the exact coordinates of all vertices of the feasible region. Show all work.

ANSWER: (list all)

(f) How many of each pack will result in the maximum revenue? Show all work.

ANSWER: Fun Packs and Writers Packs

Math 111 Autumn 2012 6

5. (11 points) You sell Things. The total cost to produce q hundred Things is given by the formula

TC(q) = 1.5q

2

+ 11.25q + 10 hundred dollars.

If you sell q hundred Things, the selling price is given by the formula

p = 3q + 90 dollars per Thing.

(a) Give the formula in terms of q for total revenue for selling q hundred Things.

TR(q) =

(b) Find all quantities at which you break even.

ANSWER: (list all) q = hundred Things

(c) What is the maximum possible total revenue?

ANSWER: hundred dollars

(d) What is the selling price when you maximize prot?

ANSWER: dollars per Thing

Math 111 Autumn 2012 7

6. (9 points) The weight in ounces of a newborn puppy t days after its born is given by the function

w(t) = 0.5t

2

2t + 6.

(a) For what range of time is the puppys weight at most 5 ounces?

ANSWER: from t = to t = days

(b) Translate the following into English:

w(5 + h) w(5)

h

.

(c) Compute and simplify

w(5 + h) w(5)

h

.

Put a box around your nal answer.

Math 111 Autumn 2012 8

7. (15 points)

(a) Compute the interest earned on a one-time investment of $500 in a savings account paying 1.5%,

compounded quarterly, for 15 months.

ANSWER: $

(b) How much must you deposit in an account paying 3%, compounded continuously, in order to

have $500,000 after 33.5 years?

ANSWER: $

(c) The population in the city of Seattle in the year 2011 was estimated to be 620,778 people, and

it was growing at a rate of 2% per year. Assuming it continues increasing at the same rate, in

what year will it reach 1 million people? Round your answer to the nearest year.

ANSWER:

Math 111 Autumn 2012 9

8. (15 points) Each of the following questions relates to an ordinary annuity or an annuity due. For

each, indicate which type of annuity is involved and answer the question.

(a) What is the size of the payments that must be deposited at the beginning of each 6-month

period in an account that pays 5.8%, compounded semi-annually, so that the account will have

a future value of $300,000 in 25 years?

CIRCLE ONE: Ordinary Annuity Annuity Due

ANSWER: $

(b) You inherit $400,000 and place all the money in an account earning 1.6%, compounded annually.

If you withdraw $10,000 at the end of each year, how long will the money last? (Round to the

nearest whole year.)

CIRCLE ONE: Ordinary Annuity Annuity Due

ANSWER: years

(c) Ruth saves for retirement, making regular payments at the end of each month into an account

earning 2.7%, compounded monthly. She makes payments of $500 a month until the account

contains $80,000, at which point she increases her payments by $250 a month. What will the

total value of the account be 10 years after she increases the size of the payments?

CIRCLE ONE: Ordinary Annuity Annuity Due

ANSWER: $

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