For this discussion, you will be working in groups to solve the following problems.
As a group member, you will post an initial reply that includes the work and solutions to each question provided in the document by using the Equation Editor (Links to an external site.)Links to an external site. in the Rich Content Editor.
Once your initial reply has been posted, note whether or not your answers match the solutions of your fellow group members.
Come together as a group and start a dialogue.
Where are the errors in the proposed solutions (mine or classmates’)?
Which solution is correct? Why? Is there more than one way to get to the correct solution?
Have we given thorough explanations for our work?
Buying & Selling
Suppose your company is going to buy and sell two types of cars: compact and mid-sized. Compact cars will be sold for $23,000 each and mid-sized cars will be sold for $35,000 each.
Write a monomial expression to describe the revenue if x is the number of compact cars sold per month.
Write a monomial expression to describe the revenue if y is the number of mid-sized cars sold per month.
Write a polynomial expression to describe the total revenue from the sale of both types of cars per month.
Your company buys cars directly from the manufacturer. Suppose it costs $11,000 to buy each compact car and $25,000 to buy each mid-sized car.
Write a monomial expression to describe the cost of buying x number of compact cars.
Write a monomial expression to describe the cost of buying y number of mid-sized cars.
Your company also has expenses of $117,275 for rent, salaries and utilities.
Write a polynomial expression to describe the total cost of doing business.
Using your polynomial expressions for revenue and cost, write a polynomial expression in simplest form, for the profit if x compact cars and y mid-sized cars are bought and sold.
Suppose that in one month your company buys and sells 20 compact cars and 15 mid-sized cars.
Find the revenue,
Find the cost, including the expenses,
Find the profit.
Suppose that in one month, only mid-sized cars were bought and sold. How many mid-sized cars would you need to buy and sell in order to break even (profit is 0)?