SKYLINE UNIVERSITY COLLEGE

University City of Sharjah – UAE

Course Code MAT 1001 Academic Year 2022-23

Semester/
Course Title Business Mathematics Weekday
Type

Date of Max. Marks/

Date of 02-01-2023 8-01-2023 30 marks/30%
uploading Submission Weightage

Student Name

Student ID

Instructions
 Attempt all questions.
 Marks for each question is mentioned against them.
 Write all your calculations and answer on this sheet.
 Only a calculator is allowed

QF emirates Order of Marks

Substrand Q. No Marks Scored
strand CLOs
Mathematical
CLO1(5) 1,2,3. 5
skills (S3)
Problem-solving CLO1(5) 1,2,3. 5
Skills skills (S4) CLO3(10) 5,6,7, 10
Analytical
CLO2(5) 4 5
skills(S5)
Applied
Knowledge knowledge(k5) CLO3(5) 5,6,7, 5

Total 30
 SKYLINE UNIVERSITY COLLEGE
University City of Sharjah – UAE

Assessment

Name of Assessment Assignment - 1

TOTAL
Q. No.-> 1 2 3 4 5 6 7

Marks-> 3 4 3 5 5 5 5 30

Marks
awarded

LO-1 LO-2 LO-3 LO-4 LO-5 TOTAL

LO Marks
10% 5% 15% N/A N/A 30%

LO
achievement

Remarks:

Name of Evaluator Dr. Reyaz Ahmad

Signature of evaluator

SECTION A: SHORT ANSWERS MAX MARKS: 10

Learning
CLO1: Demonstrate an understanding of basic concepts in business mathematics.
Outcome:
Q.no 1 From the graph given below:
(3 marks)

Identify the region satisfied by the inequalities

(a) (b)
 SKYLINE UNIVERSITY COLLEGE
University City of Sharjah – UAE

Answer

Q.no 2 The financial department of the company that produces digital cameras arrived
(4 marks) at the following price–demand function and the corresponding revenue function:

where p(x)is the wholesale price per camera at which x million cameras can be
sold and R(x) is the corresponding revenue (in millions of dollars). Both functions
have domain
(a) Find the value of x to the nearest thousand cameras that will generate the
maximum revenue. What is the maximum revenue to the nearest thousand
dollars? Solve the problem algebraically by completing the square
(b) What is the wholesale price per camera (to the nearest dollar) that
generates the maximum revenue?

Answer
 SKYLINE UNIVERSITY COLLEGE
University City of Sharjah – UAE

Q.No 3 When interest rates are low (as they were when this text went to press), the interest
(3 marks) rate and the APY are insignificantly different. To see when the difference is more
pronounced, we will find the APY for each of the given money market checking
accounts (with balances between $50,000 and $100,000), which were advertised in
October 2008 when offered rates were higher.
(a) Imperial Capital Bank: 3.35% compounded monthly
(b) U.S. Bank: 2.33% compounded daily

Formula The effective rate (APY) corresponds to a stated rate of interest r compounded m
times per year is

Answer
 SKYLINE UNIVERSITY COLLEGE
University City of Sharjah – UAE

SECTION B: SHORT ANSWERS MAX MARKS: 5

Learning CLO2: Demonstrate the ability to interpret graphs and use mathematical equations to
Outcome: solve problems.
Q.no 4
(5 marks) . A company manufactures a 42-inch plasma HDTV that sells to retailers for $550. The
cost of making x of these TVs for a month is given by the Cost function
𝐶 (𝑥) = 250𝑥 + 213,000; and the revenue function, 𝑅(𝑥 ) = 550𝑥
A graph of both the cost and revenue function is given below, with the help of the graph
, answer the following questions :-
 SKYLINE UNIVERSITY COLLEGE
University City of Sharjah – UAE

(a) What is the break-even point (b) What is the total revenue at the break-even point
(c)How many units of TVS is necessary to be produced to get the profit and
why?
(c) If the company produces 680
(d) units of TV, then will the company be in profit or not?
Give reason

Answer
 SKYLINE UNIVERSITY COLLEGE
University City of Sharjah – UAE

SECTION C: SHORT ANSWERS MAX MARKS: 15

Learning
CLO3: Construct simple mathematical models to solve business problems.
Outcome:
The revenue generated from the sale of x picnic tables is given by

Q.no.5 (a) Find the marginal revenue when x = 1000 units.

(5 marks) (b) Determine the actual revenue from the sale of the 1001 st item.
(c) Compare the answers to parts (a) and (b). How are they related?

Formula

Answer
SKYLINE UNIVERSITY COLLEGE
University City of Sharjah – UAE
 SKYLINE UNIVERSITY COLLEGE
University City of Sharjah – UAE

The cost (in hundreds of dollars) incurred by a flower shop to produce x hundred
flower arrangements for delivery on Valentine’s Day is given by

(a) Find the marginal cost at a production level of 200 flower arrangements.
Q.no 6
(b) Find the average cost at a production level of 200 flower arrangements.
(5 marks)
(c) Find the marginal average cost at production levels of 200 and 500 flower
arrangements.
(d) Find the level of production at which the marginal average cost is zero

𝑇𝑜𝑡𝑎𝑙 𝐶(𝑥)
Formula Average Cost = 𝑥
Answer

Q.no 7 The DeWitt Company has found that the rate of change of its average cost for a product is
(5 marks)

where x is the number of units and cost is in dollars. The average cost of producing 20 units
is $40.00
(a) Find the average cost function for the product.
(b) Find the average cost of 100 units of the product
 SKYLINE UNIVERSITY COLLEGE
University City of Sharjah – UAE

𝑥 𝑛+1
∫ 𝑥 𝑛 𝑑𝑥 = +𝐶
𝑛+1

Answer
SKYLINE UNIVERSITY COLLEGE
University City of Sharjah – UAE