STAT week 6
STAT week 6 STAT 1001 - 702
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This 2 page Class Notes was uploaded by Carrie Notetaker on Thursday October 6, 2016. The Class Notes belongs to STAT 1001 - 702 at Temple University taught by Kapanjie in Fall 2016. Since its upload, it has received 4 views. For similar materials see QUANTITATIVE METHODS FOR BUSINESS I in Business at Temple University.
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Date Created: 10/06/16
STAT 10/04 Functions y= f (x) 1. ; to solve substitute the value of x into the function and solve remember to write the answer as an ordered pair ex: (-3,2) whenever you find f (0) you are always going to be left with just the constant 2. f (x+h) ; to solve substitute x+h into the function remember to foil the (x+h ) 3. Domain: the set of input values for which the function is defined Racial functions: denominator cannot equal zero Radical functions: cannot take the square root of a negative number To find the domain of a racial functions, set the denominator equal to zero to find the values that x cannot be To find the domain of a radical functions, focus on the radical and find the values that x cannot be f(x+h )− f(x) 4. Difference quotient: h To find the difference quotient: 2 2 (a) Find f (x+h) first: x +2 xh+h (b) Do the whole nominator: f (x+h)– f (x) (c) Combine like-terms (d) Do the whole quotient using the previous solutions 5. Business application Place function in calculator and find the x value for said question Can be used to estimate stock flow Applications of linear functions c(x =mx+b 6. Cost= m: marginal cost b: fixed cost C x C x = ( 0 7. Average cost= ( 0 x0 To solve for average cost, you divide the cost by the number of units 8. Revenue= R(x)=px p: selling price 9. Profit= P (x=R(x)−C(x) 10.Linear Depreciation function: use the two ordered pairs to find the equation of the line (find slope and y-intercept) To solve the function, you substitute the value in for x and solve 11.Supply and Demand: use the linear equation to find the value for demand or supply, make sure you use the right equation Don’t be afraid to use your calculator for graphs and equation solving Y-max on calculator should always be the y-intercept of the demand function To find equilibrium, select the ordered pair (quantity, price) where the two graphs intersect (supply=demand) Quadratic Functions 2 12. y=a x +bx+c X-intercept: when the graph crosses the x-axis (x,0) Y-intercept: when the graph crosses the y-axis (0,y) Vertex: lowest or highest point of the graph (max or min) a>0: parabola shaped like a U a<0: parabola shaped like ꓵ y=f −b ,x= −b 13.vertex: (2a 2a y=0 14.x-intercept: set 15.y-intercept: set x=0 or just the c value 16.axis of symmetry: middle of parabola, x value of the vertex 17.Revenue function: same as linear functions, remember to distribute the x Max and min have to do with the vertex of the parabola When finding the actual max or min revenue, plug the value into the revenue function 18.Supply and Demand: same as linear functions, remember to find the calculator window when graphing Price is your y when it comes to supply
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