SOLUTION: Ace’s Bicycle Designs has found that when x hundred bicycles are built, the average cost per bicycle is given by C(x) = 0.1x^2 - 0.7x + 2.425 where C(x) is in hundreds of dollars
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Question 1177138: Ace’s Bicycle Designs has found that when x hundred bicycles are built, the average cost per bicycle is given by C(x) = 0.1x^2 - 0.7x + 2.425 where C(x) is in hundreds of dollars. How many bicycles should be built in order to minimize the average cost per bicycle? What is the minimum cost per bicycle?
Set the first derivative equal to zero and solve for and round to 2 decimal places. Since in the cost function represents a number of 100 bicycles, any greater precision in the computation of the quantity for the minimum average cost would result in a minimum quantity including a fractional part of a bicycle.
Once you have the minimum quantity, evaluate the cost function for that quantity.
John
My calculator said it, I believe it, that settles it
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