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MATH 1090-001
Midterm 1
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Spring 2013
Instructor: Katrina Johnson
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SHOW ALL WORK. No points will be given for answers without justification.
Scratch paper will be provided by the instructor, just ask. Scratch work will not
be graded, record all work that is part of your solution on this exam.
Make sure your work is organized and legible.
Use a PENCIL, erase errors.
NO CALCULATORS, NOTES, PHONES, NEIGHBORS, ETC.
Answers should be simplified (reduced.)
Box or Circle your final answers.
Prob.
1
2
3
4
5
Score
Prob.
/156
/37
/38
/89
/10 10
Total
Score
/10
/8
/16
/12
/15
/100
1. Assume the profit, revenue, and cost functions for this problem are linear.
a) One motorcycle costs a total of $7200 to manufacture. If the variable costs are
$1200 per motorcycle, what are the fixed costs?
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b) What is the linear cost function, C(x)?
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c) The profit function is P(x)1500x-6000. What is the linear revenue function, R(x)?
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d) How many motorcycles must be sold to break even?
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2. Solve.
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5. A retailer will buy 54 books from a wholesaler if the price is $10 each, but only 16
books if the price is $62. Write the linear demand equation using p for price and q for
quantity.
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7. James invests a total of $10,000 in two different accounts. The riskier investment
yields an annual average of 13% profit and the safer investment yields 9% profit
annually. How much money was invested in each account if James receives $625 profit
each year?
a) Write the system of linear equations describes above. bo NOT solve this system.
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c) Write the matrix equation that corresponds to the linear system found in part a.
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