MAT133Y Final 2012W PDF

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NAME (PRINT):
Last/Surname First /Given Name

STUDENT #: SIGNATURE:

UNIVERSITY OF TORONTO MISSISSAUGA
APRIL 2012 FINAL EXAMINATION Version A
MAT133Y5Y
Calculus and Linear Algebra for Commerce
T. Squires, J. Thind, and A. Wilk
Duration - 3 hours
Aids: Calculator Model(s): TI-30X, TI-30XIIS, or TI-30XIIB ;

The University of Toronto Mississauga and you, as a student, share a commitment to academic
integrity. You are reminded that you may be charged with an academic offence for possessing
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put all unauthorized aids with your belongings at the front of the room before the examination
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charged with an academic offence. A typical penalty may cause you to fail the course.

Please note, you CANNOT petition to re-write an examination once the exam has begun.

INSTRUCTIONS:
1. There are two parts to this examination:
PART I: MULTIPLE CHOICE 16 questions of equal value (3 marks each).
PART II: Questions of varying value. In each question, you must show your work and write a concluding
statement (in the box provided). A correct answer obtained with false reasoning (or no reasoning) will not
receive any marks.
2. This examination has 24 different pages including this page and the formula sheets on the last two pages.
Make sure your copy of the examination has 24 different pages and sign it at the top.
3. Budget your time. Good Luck!

Continued on page 2

PART I ******************PART II******************
Q1- Q16 Q1 Q2 Q3 Q4 Q5 Q6
Value 48 8 8 8 10 8 10
Score
TOTAL:
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MAT133Y5Y April 2012 Final examination-A Student number______________________________

*******************************************************************************************

PART I: MULTIPLE CHOICE [Total: 48 marks, 3 marks for each part]

For each question clearly circle the letter corresponding to your answer,
in the MULTIPLE CHOICE ANSWER TABLE provided BELOW .

(ONLY ONE LETTER should be circled for each question).

NO marks for incorrect answers or answers indicated outside the MULTIPLE CHOICE ANSWER TABLE]

PART I: MULTIPLE CHOICE ANSWER TABLE

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
A A A A A A A A A A A A A A A A
B B B B B B B B B B B B B B B B
C C C C C C C C C C C C C C C C
D D D D D D D D D D D D D D D D
E E E E E E E E E E E E E E E E

NO marks for incorrect answers or answers indicated outside the MULTIPLE CHOICE ANSWER TABLE]

********************************************************************************************

Continued on page 3
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PART I: MULTIPLE CHOICE (continued) [Total: 48 marks, 3 marks for each part]
For each question clearly circle the letter corresponding to your answer, in the MULTIPLE CHOICE ANSWER
TABLE provided on page 2.

1. You have $10,000.00 to invest for 3 years. Bank A offers an interest rate of 5% compounded annually, while
Bank B offers a rate of 2% comp. annually for the first year, 4% comp. annually for the second year and 9% comp.
annually for the third year. Which Bank offers a bigger return on your investment? In other words, which would be
more profitable for you?

A) Both are equally profitable

B) Bank B

C) Bank A

D) Neither one

E) None of the above

2. The present value, to the nearest cent, of a continuous annuity, at an annual rate of 6% (r = 0.06) for 9 years, if the regular
payments at time t are at the rate of 60 dollars per year, is:

A) $540.00

B) $417.25

C) $716.01

D) $926.64

E) none of these

Continued on page 4
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MAT133Y5Y April 2012 Final examination-A

3. Given two sets of equations
Set #1:
2 0
2 2 4 0
x y z
x y z
+ =
+ =
and Set #2:

2 3
2 2 4 4
x y z
x y z
+ =
+ =

Determine how many solutions these 2 sets of equations have.

A) infinitely many/no solution

B) infinitely many/infinitely many

C) no solution/no solution

D) only one solution/no solution

E) none of these

4. It has been shown that ( )
1
1 1
AB B A

= .
Given that
1
1 3
2 4
Q
(
=
(

and
1
1 1
1 5
P
(
=
(

, ( )
1
PQ

will be

A)
3 16
11 22
(
(

B)
3 7
11 23
(
(

C) ( )
1
PQ

doesnt exist D)
4 16
6 22
(
(

E) none of these

Continued on page 5
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5. If
3 2
2
2 5 3 7
( )
7 2 1300
x x x
f x
x x
+
=
+ +
then

A)
2
lim ( )
7
x
f x
= B) lim ( )
x
f x
= C) lim ( ) 0
x
f x
=
D) lim ( )
x
f x
= E) None of these

6. If the average cost function for a product is given by
2
( ) ln( ) c q q = , when q > 1, then the marginal cost
when q = 10, will be

A) 2 B)
1
ln100
5
+ C) ln100 2 + D)
1
5
E) none of these

Continued on page 6
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7. Let
2
1 p q q = + be the demand equation for an item. On what interval is the marginal revenue decreasing?

A)
1
[0, )
3
B) [0, 3) C)
1
( , )
3
D) never E) none of these

8. For
3 2
( ) 2 9 12 1 f x x x x = + , on the interval [-2, 3] where does the absolute minimum occur? Give the x
component.

A) x = 1

B) x = 2

C) x = -2

D) f has no absolute minimum on [-2, 3]

E) none of these

Continued on page 7
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9. The equation of the tangent line to the curve given by
2 xy
x y e x + = at the point (1, 0) is given by

A) 1 y x = B) 1
2
x
y = C) 2 1 y x = D)
1
2
x
y

= E) none of these

10. Given the marginal revenue 1
dr
q q
dq
= + , find the revenue when q = 8, rounded to the nearest cent

A) $208.53 B) $24.00 C)$78.93 D) $209.07 E) $79.47

Continued on page 8
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11. The area of the region bounded by
2
1 x
y
x
+
= and the x -axis, from 1 x = to
2
x e = , is

A)
( )
4
1
1
4
e B)
( )
4
1
3
2
e + C)
( )
4
1 e D)
( )
4
1
3 1
2
e + E)
( )
2
1
3
2
e +

12. The improper integral
0
2 x
e dx

A) diverges to - B) equals
2
3
C) equals
3
2
D) equals -
2
3
E) diverges to

Continued on page 9
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13. The solution to the separable differential equation given by 2 ' ' 1 xy y + = , with
1
2
x > , subject to the initial
condition (0) 5 y = is

A) 2ln(2 1) y x = + B) ln(2 1) 5 y x = + + C) 2ln(2 1) 5 y x = + +
D)
1
ln(2 1) 5
2
y x = + + E) none of these

14. How many critical points does
2 2
( , , ) 2 100 ( 100) f x y z x xy y z x y = + + + + have?

A) exactly one B) none C) exactly 2 D) exactly 3 E) none of these

Continued on page 10
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15. Given ln
x
z
y
| |
=
|
\
,
2 2
x r s = + and
2
( ) y r s = + , then
z z
r s

when r = 1 and s = 1 will be

A) 3 B) 2 C) 1 D) 0 E) none of these

16.
2
2 2
1 0
y
x y dxdy

is equal to

A)
1
3
B)
7
2
C)
256
9
D)
1
9
E) none of these

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PART II: You must show your work and write a concluding statement (in the box provided).

Question 1 [Total: 8 marks]

A person has an old debt of $3000 due to be paid in 3 years. He negotiates a new payment plan to pay this debt off
by making three payments of x dollars each, starting with one payment now, another in 3 years and a final payment
in 4 years. If interest is at an annual rate of 6% compounded monthly, find x = ?
Round your answer to the nearest dollar.

Answer for Question 1: Round your answer to the nearest dollar.


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This page is intentionally left blank. Use it for rough work.

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A company produces 3 products, A, B, and C, that require processing by three machines, I, II, and III. The time in
hours that is required for processing one unit of each product by the three machines is given by the following table:
A B C
I 3 1 2
II 1 2 1
III 2 4 1
Machine I is available for 440 hours, machine II for 310 hours and machine III for 560 hours.
Find how many units of each product should be produced to make use of ALL available time on the machines.
Let x , y, and z represent the number of product A, B, and C produced.

Answer for Question 2: Write a concluding sentence.


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The demand equation for a product is given by
200
20
p
q
=
+
(in dollars), and the supply equation is
2ln( 10) 5 p q = + + (in dollars), with the equilibrium point ( )
0 0
( , ) 153.32,15.19 q p = .
Calculate producers surplus (PS) under market equilibrium. Round your answer to two decimals.

Answer for Question 3: Round your answer to two decimals


PS = $
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Given: ( ) ln f x x x = , and
0
lim ln 0
x
x x
+
=
a) List all x and y intercepts (if any).

b) Give the x-coordinate of each of the critical values? (If any)

c) On what open interval(s) is ( ) f x negative? (use interval notation)

x

d) On what open interval(s) is ( ) f x positive? (use interval notation)

x

e) Determine the x value of any point(s) where there is a relative minimum point [If any]. Indicate if there are none.

x =

f) Determine the x value of any points of inflection this function has [If any]. Indicate if there are none.


x =
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Question 4 (continued)[Total: 10 marks]

For each part, clearly indicate your final short answer in the appropriate BOX provided.

g) Does the given function have any vertical asymptotes?

h) Does the given function have any horizontal asymptotes?

i) Sketch the graph of ( ) ln f x x x = .

j) Determine the x and y coordinates of the absolute maximum point(s) [If any]. Indicate if there are none.
Give your answer exactly (for example, leave it as 1/3 instead of 0.33, or as e
2
instead of 7.39).


Yes / No (circle one)

If yes, where?

Yes / No (circle one)

If yes, where?

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Given the differential equation
2
( 1)
dc
q cq
dq
+ =
i) Find the general solution to the given separable differential equation.
You may leave this solution in implicit form.

ii) If ( ) c c q = is the cost function, with fixed cost e, find the particular solution.
Express your answer explicitly, in terms of q.

Answer to Question 5:


i) The general solution is

ii) The particular solution is:
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A utility function is a function that attaches a measure to the satisfaction or utility a consumer gets from the
consumption of products per unit time.
Suppose ( , , ) U x y z xyz = is the utility function for 3 products, A, B, and C, with x, y, and z representing the number
of units of 3 different products, respectively. The prices of these three products are pA, pB, and pC, in dollars, given
by:

1
2
1
A
B
C
p
p
p
=
=
=

Find the values of x, y, and z that will maximize ( , , ) U x y z xyz = , subject to the condition that you must purchase
$600 worth of products. In other words, 600
A B C
p x p y p z + + = , with , , and 0 x y z > .
Show your work here and put your concluding sentence in the box provided on page 19.

Answers for Question 6:


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MAT133Y5Y April 2012 Final examination
FORMULA SHEET
Your name and student # MUST be written in INK on this page if you wish to separate it from the rest!

STUDENT NAME: ________________________________ Student number______________________________

FORMULA SHEET (1)
Some facts that may be useful:

For discrete periodic compounding with periodic rate r (where r is the APR divided by the number of interest periods in one
year):
(1 )
n
S P r = + is the compound amount when a principal amount P is invested for n periods at a periodic rate of r.
(1 )
n
P S r

= + is the present value (or principal amount) that needs to be invested at the periodic rate of r for n
interest periods so that the compound amount is S.
The effective rate re that is equivalent to an APR (a nominal rate) compounded n times a year is given by:
1 1
n
e
APR
r
n
| |
= +
|
\

For continuous compounding:
rt
S Pe = is the compound amount S of a principal amount P after t years at an annual interest rate r compounded
continuously.
rt
P Se
= is the present value P of a compound amount S due at the end of t years at an annual interest rate r compounded
continuously.
The effective rate re corresponding to an annual rate of r compounded continuously is 1
r
e
r e =
Annuities:

1 (1 )
n
r
A R
r
+
= is the present value of an
ordinary annuity

(1 ) 1
n
r
S R
r
+
= is the future value of an
ordinary annuity

1
1 (1 )
1
n
r
A R
r
+
( +
= +
(

is the present value
of an annuity due

1
(1 ) 1
1
n
r
S R
r
+
( +
=
(

is the future value of
an annuity due)

A = Present value of an annuity
S = amount (future value) of an annuity
R = amount of each payment
n = number of payments
r = periodic rate of interest

For a LOAN amortized over n periods at a periodic rate r, we have:
Principal outstanding at beginning of period k:
Ak =
( )
1
1 1
n k
r
R
r
+
+

The interest portion of the kth payment is:
Akr = R ( )
1
1 1
n k
r
+
(

+
The principal contained in the payment of the kth period is:
R - R ( )
1
1 1
n k
r
+
(

+ = ( )
1
1
n k
R r
+
+
Total finance charges (interest paid): nR A
****************************************************
For continuous annuities:
0
( )
T
rt
A f t e dt

0
( )
( )
T
r T t
S f t e dt

With the annual rate being r (compounded continuously), for T years,
and where the payment at time t is at a rate of f(t) dollars per year.

A = Present value of the continuous annuity
S = accumulated (future value) of the continuous annuity
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MAT133Y5Y April 2012 Final examination
FORMULA SHEET (2)

Derivatives:

1
[ln ]' x
x
= [ ]'
x x
e e =
1
[ ]'
r r
x rx

=

[ ]' ln
x x
a a a = (for a > 0)

Some general rules for differentiation:

The Product Rule:
[ ( ) ( )]' '( ) ( ) ( ) '( ) f x g x f x g x f x g x = +

The Quotient Rule:
( )
2
'
( ) '( ) ( ) ( ) '( )
( )
( )
f x f x g x f x g x
g x
g x
(
=
(

The Chain Rule:
[ ]
'
( ) '( ( )) '( ) f g x f g x g x = o

Elasticity of Demand:
The point elasticity of demand , which is a negative
number, is given by

p
p dq q
dp
q dp
dq
= =

Economics stuff some useful relations:
c
c
q
= ,
r pq = , P r c =
Here, c represents cost (total), c represents average
cost, p represents the demand (price per unit), q is the
number of units of a product, r is revenue, P is profit.

Integrals:
1
1
ln dx x dx x C
x
= = +

x x
e dx e C = +
,
kx
kx
e
e dx C
k
= +

(for 0 1)
ln
x
x
a
a dx C a
a
= + <

1
(for 1)
1
r
r
x
x dx C r
r
+
= +
+

Average value of a function on [a, b]:
The average (or mean) value of a function y = f(x) over
the interval [a, b] is denoted by y (or) f and is given
by

1
( )
b
a
f f x dx
b a
=

Some general rules for integration:

( ) ( ) cf x dx c f x dx =

[ ( ) ( )] ( ) ( ) f x g x dx f x dx g x dx + = +

[ ( ) ( )] ( ) ( ) f x g x dx f x dx g x dx =

( ( )) ( ) ( ) f g x g x dx f u du =

when we let ( ) u g x =

( ) '( ) ( ) ( ) ( ) '( ) f x g x dx f x g x g x f x dx =

OR udv uv v du =

(Integration by parts)

THE END

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