A car wash firm calculates that its daily production (in number of cars washed) depends on...

A car wash firm calculates that its daily production (in number of cars washed) depends on the number n of workers it employs according to the formula

P = 40n − 0.05n² cars.

Calculate the marginal product of labor at an employment level of 50 workers. HINT [See Example 3.]

This means that, at an employment level of 50 workers, the firm's daily production will increase at a rate of cars per additional worker it hires.

Expert Solution

milcah answered 2 years ago

An attendant at a car wash is paid according to the number of cars that pass...

An attendant at a car wash is paid according to the number of cars that pass through. Suppose the probabilities are 1/12, 1/12, 1/4, 1/4, 1/6, and 1/6, respectively, that the attendant receives $7, $9, $11, $13, $15, or $17 between 4:00 P.M. and 5:00 P.M. on any sunny Friday. a) What is the probability that the attendant receives more than 15 dollars in this period? b) What is the probability that attendant receives less than 10 dollars in this...

Historically, the number of cars arriving per hour at Lundberg’s Car Wash is observed to be...

Historically, the number of cars arriving per hour at Lundberg’s Car Wash is observed to be the following: Number of Cars Arriving Frequency 4 10 5 30 6 50 7 65 8 45 Total: 200 a. Set up a probability distribution table (including the lower end of the probability range) for the car arrivals. b. Simulate 25 hours of car arrivals. What is the average number of arrivals per hour? c. Repeat part b multiple times (by pressing F9). Over...

Cars enter a car wash at a mean rate of 2 cars per half an hour....

Cars enter a car wash at a mean rate of 2 cars per half an hour. What is the probability that, in any hour, exactly 5 cars will enter the car wash? Round your answer to four decimal places.

The owner of a car wash wants to see if the arrival rate of cars follows...

The owner of a car wash wants to see if the arrival rate of cars follows a Poisson distribution. In order to test the assumption of a Poisson distribution, a random sample of 150 ten-minute intervals was taken. You are given the following observed frequencies: Number of Cars Arriving in a 10-Minute Interval Frequency 0 3 1 10 2 15 3 23 4 30 5 24 6 20 7 13 8 8 9 or more 4 150 The calculated value...

On Saturdays, cars arrive at Sami Schmitt's Scrub and Shine Car Wash at the rate of...

On Saturdays, cars arrive at Sami Schmitt's Scrub and Shine Car Wash at the rate of 6 cars per fifteen minute interval. Using the Poisson distribution, the probability that five cars will arrive during the next five minute interval is _____________.

1. A profit-maximizing, monopolistically competitive car wash washes 40 cars per day, and its total cost...

1. A profit-maximizing, monopolistically competitive car wash washes 40 cars per day, and its total cost $200 and currently makes an economic profit of $280. In the long run, everything else equal, the a. car wash will wash less than 40 cars per day. b. car wash will charge more than $12 per wash. c. car wash will need to hire new workers to wash more cars. d. car wash will wash more than 50 cars...

The value of a car depends on its age, X. A car is drawn at random...

The value of a car depends on its age, X. A car is drawn at random with the probability mass function for X (age) of p(x)=c/x for x=1,2,3,4. a)What is the value of c? b)If Value depreciates 5 (thousand dollars) each year so Value=30-5X. What are the expected value and variance of Value? c)If Value=30-8X+X2, what is the expected value of Value?

The monthly cost of owning a car depends on the number of kilometers it is driver....

The monthly cost of owning a car depends on the number of kilometers it is driver. Taylor found that in May it cost her $500 to drive 800 km and it June it cost her $650 to drive 1400 km. Express the monthly Cost C as a function of the distance driven d, assuming that a linear function is a suitable model. Use this function to predict the cost of driving 2000 km per month. Find the derivative of the...

Lorenzo operates a brushless car wash. Incoming cars are put on an automatic, continuously moving conveyor...

Lorenzo operates a brushless car wash. Incoming cars are put on an automatic, continuously moving conveyor belt. A car is washed as the conveyor belt carries it from the start station to the finish station. After the car moves off the conveyor belt, workers dry it and clean and vacuum the inside. Workers are managed by a single supervisor. Lorenzo's accountant wants to estimate total costs in October, when 9,350 cars are expected to be washed. She uses two different...

From historical data, Harry’s Car Wash estimates that dirty cars arrive at the rate of 10...

From historical data, Harry’s Car Wash estimates that dirty cars arrive at the rate of 10 per hour all day Saturday. With a crew working the wash line, Harry figures that cars can be cleaned at the rate of one every 5 minutes. One car at a time is cleaned in this example of a single-channel waiting line. Assuming Poisson arrivals and exponential service times, find the average number of cars inline. average time a car waits before it is...

Question