Question

In: Math

A farmer has produced 1000 apples and wants to sell them. He can sell the apples...

A farmer has produced 1000 apples and wants to sell them. He can sell the apples at two different markets:

- At market 1, if the farmer sells x apples, he can sell them for 2/square root of x dollars each

- At market 2, if the farmer sells y apples, he can sell them for 4/square root of y dollars each.

Find out how the farmer should split his 1000 apples between both markets in order to maximize profit. (Use Optimization)

Solutions

Expert Solution


Related Solutions

You are an apple farmer who sell apples by the boxes. Each box contains 6 Apples....
You are an apple farmer who sell apples by the boxes. Each box contains 6 Apples. You have 30 boxes of apples. Price of each box is $20. Using cout object as studied in the class and by use of algorithm(s), display following in the format as written below: 1. Total number of apples in all boxes are ______________ 2. Total apples will be sold for $_____________________ Upload your assignment here. using python and no copy from other assingment and...
A farmer has 1000 acre of land on which he can grow corn, wheat and soyabeans....
A farmer has 1000 acre of land on which he can grow corn, wheat and soyabeans. Each acre of corn cost Rs. 100 for preparation, requires 7 man days of work and yields a profit of Rs. 30. An acre of wheat cost Rs. 120 for preparation, requires 10 man days of work and yields a profit of Rs. 40. An acre of soyabeans cost Rs. 70 to prepare, requires 8 man days of work and yields a profit of...
A cereal farmer has a stock of wheat of 50 tonnes, and plans to sell them in a year.
1) A cereal farmer has a stock of wheat of 50 tonnes, and plans to sell them in a year. The spot price is € 100 / t, the 1-year interest rate is 1%, the cost of storing wheat is 0.5% of the value of the inventory, payable at maturity. What do you advise him to do if he wants to hedge against fluctuations in the price of wheat, and the one-year wheat price is € 100.5 / t? What...
An apple orchard farmer wants to know the true population proportion of all apples harvested at...
An apple orchard farmer wants to know the true population proportion of all apples harvested at their farm which have the less valuable condition of being blemished, or in other words, are cider apples. This true population proportion is a parameter value represented by the symbol p. As a population parameter, this value can never be known with certainty. It can however, be estimated with varying levels of confidence. To estimate this parameter p, the farmer draws a simple random...
A farmer has a 1000-acre farm on which carrots, onions, and tomatoes could be planted. He...
A farmer has a 1000-acre farm on which carrots, onions, and tomatoes could be planted. He has 1600 tons of fertilizer, 900 tons of insecticide-A, and 800 tons of insecticide-B. Each acre of carrots requires two tons of fertilizer, one ton of insecticide-A and 0.5 tons of insecticide-B. Each acre of onions requires one ton of fertilizer, 0.25 tons of insecticide-A and 0.75 tons of insecticide-B. Each acre of tomatoes requires 1.5 tons of fertilizer, one ton of insecticide-A and...
A farmer has four different varieties of maize, and wants to compare their efficacy. He recognises...
A farmer has four different varieties of maize, and wants to compare their efficacy. He recognises however that output produced depends not only on the variety of maize, but also on the plot of land used for growing. He arranges an experiment in which quantity of each variety is planted on each of the five one acre plots. This means that the sample size n is 5 while the number of treatments K is 4. The yield is counted and...
A purely competitive wheat farmer can sell any wheat he grows for $10 per bushel. His...
A purely competitive wheat farmer can sell any wheat he grows for $10 per bushel. His five hectares of land show diminishing returns, because some are better suited for wheat production than others. The first hectare can produce 1000 bushels of wheat, the second hectare 900, the third 800, and so on. Fill in the table given below to answer the following questions. How many bushels will each of the farmer’s five hectares produce? How much revenue will each hectare...
A farmer needs to decide which type of corn he wants to plant. To decide, he...
A farmer needs to decide which type of corn he wants to plant. To decide, he plants two small test areas. After the corn has grown he compares the lengths of the cobs. He looks at 35 cobs of Type A, which had an average length of 6.3 inches with a variance of 1. He looks at 30 cobs of Type B, which had an average length of 5.9 with a variance of 1.3. Calculate a 95% confidence interval for...
A farmer wants to determine the mean number of eggs produced per month. A sample of...
A farmer wants to determine the mean number of eggs produced per month. A sample of 20 chickens shows they produce an average of 20 eggs per month with a sample standard deviation of of 2 eggs per month. a.What is the point estimate of the population mean? b.Why is a t-distribution necessary? _________________ c.what assumption must be made to use the t-distribution? _____________________ What is the value of t for a 95% confidence interval? _______________________ What is the 95%...
A farmer wants to determine the mean number of eggs produced per month. A sample of...
A farmer wants to determine the mean number of eggs produced per month. A sample of 20 chickens shows they produce an average of 20 eggs per month with a sample Standard Deviation of 2 eggs per month. A. What is the point estimate of the population mean ? B. Why is a t distribution necessary? C. What assumptions must be made to use the t distribution? D. What is the value of t for a confidence interval ?e. What...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT