DSC1520/202/2/2017

Tutorial letter 202/2/2017

Quantitative Modelling 1
DSC1520

Semester 2

Department of Decision Sciences

Solutions to Assignment 2

Bar code
Dear Student
This tutorial letter contains the solutions to the second compulsory assignment. Please contact me if you
have any questions.
Kind regards

Dr Mabe-Madisa
Club One 4-12,
Hazelwood Campus,
Unisa
Tel: +27 12 433 4602
E-mail: mabemgv@unisa.ac.za

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Question 1

(a) Plotting these points gives the following:

(b) This is an exponential function.

Question 2

−x2 +6x−5 −(x2 −6x+5) −(x−5)(x−1)

(a) x−5 = x−5 = x−5 = −x + 1.

(b) The equation 5 + x = 4x2 − 4 + x simplifies to 4x2 − 9 = 0. Factoring gives (2x − 3)(2x + 3) = 0 resulting
in x = 1,5 and x = −1,5.

Question 3
ex (1+e1−x ) ex +e1−x+x ex
(a) e = e = e + 1 = ex−1 + 1.

(b) Solving the equation gives

√
3x 3x+1 = 9
2x+1 1
3 = 3
2x + 1 = 1
x = 0.

Question 4
8 3
(a) 8 ln 2 + 3 ln 8 − 2 ln 3 = ln 28 + ln 83 − ln 32 = ln 2382 = ln 14 563,55 = 9,59.

(b)
2 ln x − ln(x + 2) = ln x2 − ln(x + 2)
 2 
x
ln x+2 = 0
x2
x+2 = e0 = 1
x2 − x − 2 = 0
(x − 2) (x + 1) = 0
x = 2 or x = −1.

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Question 5
15
b
(a) Turning point at x = − 2a = − 2×−3 = 15 2
6 = 2,5. The function value at this point is f (2,5) = −3(2,5) +
15(2,5) − 12 = 6,75. The coordinates are (2,5; 6,75).
(b) The roots of f are the x values for which f (x) = 0, that is −3x2 + 15x − 12 = (3x − 3)(−x + 4) = 0.
Solving this gives the roots of f as x = 1 or x = 4.

(c)

Question 6

(a) At equilibrium Pd = Ps . Therefore,

56
= 10 + 2Q
Q+2
(10 + 2Q)(Q + 2) = 56
10Q + 20 + 2Q2 + 4Q = 56
2Q2 + 14Q − 36 = 0
Q2 + 7Q − 18 = 0
(Q + 9)(Q − 2) = 0,
giving Qe = 2 or Qe = −9 which is not viable. From this we find Pe = 10 + 2(2) = 14.

(b)

Question 7

(a) From Q = 80 − 2P it follows that P = 40 − 0,5Q. Now, T R = P Q = 40Q − 0,5Q2 , T C = 15Q + 100,
and π = 40Q − 0,5Q2 − (15Q + 100) = −0,5Q2 + 25Q − 100.
OR
From Q = 80 − 2P, T R = P Q = 80P − 2P 2 , T C = 15Q + 100, and π = T R − T C = 80P − 2P 2 −
(80 − 2P ) = −2P 2 + 110P − 1 300.
−b −25
(b) Maximum profit is found at the turning point of the profit function, that is at Q = 2a = −0,5×2 = 25.
They should therefore produce 2 500 units for maximum profit.

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(c) The optimum price is P = 40 − 0,5(25) = 27,50 and the maximum profit is

π(27,50) = −0,5 (80 − 2P )2 + 25 (80 − 2P ) − 100

= −2P 2 + 110P − 1 300
= −2 (27,50)2 + 110(27,50) − 1 300
= 212,5

Question 8
√
(a) The profit function is π = 2Q − 4 + 6Q.

(b) Break-even is where T R = T C, that is

p
2Q = 4 + 6Q
2
4Q = 4 + 6Q
2
4Q − 6Q − 4 = 0
2Q2 − 3Q − 2 = 0
(2Q + 1)(Q − 2) = 0.

Break-even is at Q = 2, which means 2 000 units must be produced for the firm to break even.

(c)

Question 9
5 000
(a) Initially (t = 0) Q(0) = 2+1 249e0 = 3,996 ≈ 4 people had the disease.
5 000
(b) After 15 days Q(15) = 2+1 249e−0,33(15)
= 460,95 ≈ 461 people.

(c) Set Q(t) = 1 000 and solve for t,

5 000
1 000 =
2 + 1 249e−0,33t
2 000 + 1 249 000e−0,33t = 5 000
−0,33t 3 000
e =
1 249 000
3
−0,33t = ln = −6,0314
1 249
t = 18,277 ≈ 18 days.

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Question 10

(a) From the roots we find f (x) = (x+3)(x−3)(x−4) = (x+3)(x2 −7x+12) = x3 −7x2 +12x+3x2 −21x+36 =
x3 − 4x2 − 9x + 36.

(b) The graph of f is

(c) Maximum at (−0,85; 40,15) and minimum at (3,52; −1,63).