Mike receives a bonus every year. His bonus is calculated as 3 percent of his company's total profits. If he estimates his company's total profits to be between $500,000 and $650,000, which inequality best represents Mike's bonus, B, for the year?

The range of the data set is 19 hours. None of the options are correct.

The given data set represents the number of hours Raymond spent practicing the piano each week for several weeks: 24, 8, 6, and 5 hours. To calculate the range, follow these steps:

1. Identify the highest and lowest values in the data set.
  - The highest value is 24 hours.
  - The lowest value is 5 hours.

2. Subtract the lowest value from the highest value to find the range.
  - Range = Highest value - Lowest value
  - Range = 24 hours - 5 hours
  - Range = 19 hours

This means that there is a 19-hour difference between the maximum and minimum number of hours Raymond spent practicing the piano each week. None of the options (a. 8 hours, b. 2 hours, c. 5 hours, and 6 hours) provided matches the correct answer, which is 19 hours.

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The completed table based on the given pattern is as follows: Shape 1: 4 matchsticks, Shape 2: 7 matchsticks, Shape 3: 10 matchsticks, Shape 4: 13 matchsticks, Shape 5: 24 matchsticks, Shape 6: 82 matchsticks.

To complete the table based on the given pattern, we need to identify the rule that determines the number of matchsticks for each shape.

Looking at the provided information, we can observe that the first four shapes follow a consistent rule, while the last two shapes seem to deviate from that rule.

For the first four shapes:

Shape 1: 4 matchsticks

Shape 2: 7 matchsticks (Shape 1 + 3 matchsticks)

Shape 3: 10 matchsticks (Shape 2 + 3 matchsticks)

Shape 4: 13 matchsticks (Shape 3 + 3 matchsticks)

Based on this pattern, it appears that each shape adds three additional matchsticks compared to the previous shape.

Now, let's analyze the last two shapes:

Shape 6: 43 matchsticks

Shape 7: 82 matchsticks

From Shape 4 to Shape 6, there is an increase of 3 matchsticks as expected.

However, from Shape 6 to Shape 7, there is an unexpected increase of 39 matchsticks.

Since the given information does not provide a clear pattern or rule for the last two shapes, we cannot accurately determine the number of matchsticks for those shapes.

Therefore, we can complete the table as follows:

Shape 1: 4 matchsticks

Shape 2: 7 matchsticks

Shape 3: 10 matchsticks

Shape 4: 13 matchsticks

Shape 5: (Unknown)

Shape 6: (Unknown).

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Answer:

--------------------

First, plot the points and connect together in the given order.

See attached.

As we can see all sides are of different length but two sides seem to be parallel.

Let's find the slopes of segments BC and AD and compare:

As se see the slopes are same, so BC and AD are parallel.

Since we have a pair of parallel sides, the quadrilateral is a trapezoid.

The current number of classrooms is 24, and the number of students per class is 70 if there were a total of 1200 students.

Let us assume that the number of classes = x

Number of students per class = 1200/x

Number of classrooms planned = x - 4

Number of students planned per class = 1200/ x+10

Total number of students = 1200

By using the above data, the equations will be written as:

(1200 / x-4) = (1200/x) +10

By multiplying the equation 2 we get:

1200x = 1200x + [tex]x^{2}[/tex] - 4800 - 40x

[tex]x^{2}[/tex] - 480- 4x = 0

(x-24) (x+20) = 0

x = 24

Number of rooms built = x =24

Number of students per class = (1200/24-10) = 60 students

Therefore, we can conclude that the current number of classrooms is 24, and the number of students per class is 60 + 10 =70.

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71.38 in word form is Seventy-one and thirty-eight hundredths.

What is the decimal number?

The accepted method for representing both integer and non-integer numbers is the decimal numeral system. Decimal notation is the term used to describe the method of representing numbers in the decimal system.

A number is a numerical unit of measurement and labeling in mathematics. The natural numbers 1, 2, 3, 4, and so on are the first examples. Number words are a linguistic way to express numbers.

To write decimals in word form, you can read the whole number part, write "and," and then read the decimal part according to place value.

For example: 0.25 can be written as "zero and twenty-five hundredths"

Hence, the correct answer is 'D. Seventy-one and thirty-eight hundredths'.

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The given differential equation is y"' + 4y = 0. To derive a recurrence relation, we assume that the solution has the form y = e^rx.

Substituting this in the differential equation, we get the characteristic equation r^3 + 4 = 0. Solving this, we get three roots r = -2i, 2i, 0.

So, the general solution is y = c1cos(2x) + c2sin(2x) + c3. Using the initial conditions y(0) = 0 and y'(0) = 1, we get c1 = 0 and c2 = 1/2.

Therefore, the solution is y = 1/2sin(2x) + c3.

Now, we can find the recurrence relation by writing c3 in terms of c2 and c1. We have c3 = y(0) - (1/2)sin(0) = 0. So, the recurrence relation is cn+2 = -4cn.

Using the initial conditions, we have c1 = 0 and c2 = 1/2. Therefore, the explicit formula for the coefficients is cn = (1/2)(-4)^n-2 for n ≥ 2.

Finally, the particular solution can be found by adding the general solution to the homogeneous solution. Since the roots are imaginary, the particular solution will have the form y = Acos(2x) + Bsin(2x).

Substituting this in the differential equation, we get A = 0 and B = -1/8.
So, the particular solution is y = -1/8sin(2x).

Therefore, the final solution in terms of familiar elementary functions is y = (1/2)sin(2x) - (1/8)sin(2x) = (3/8)sin(2x).

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Answer:

Step-by-step explanation:

To find the experimental probability of a student in Homeroom 203 taking a certain number of minutes to get to school, we need to divide the number of students who take that amount of time by the total number of students in the homeroom.

The total number of students in the homeroom is:

3 + 5 + 10 + 7 + 2 + 3 = 30

The probability of a student taking less than 10 minutes to get to school is:

3/30 = 0.1 or 10%

The probability of a student taking 10-19 minutes to get to school is:

5/30 = 0.166 or 16.6%

The probability of a student taking 20-29 minutes to get to school is:

10/30 = 0.333 or 33.3%

The probability of a student taking 30-39 minutes to get to school is:

7/30 = 0.233 or 23.3%

The probability of a student taking 40-49 minutes to get to school is:

2/30 = 0.066 or 6.6%

The probability of a student taking 50 minutes or more to get to school is:

3/30 = 0.1 or 10%

To make a probability distribution, we can list the possible outcomes (in this case, the time it takes to get to school) and their corresponding probabilities:

Time (min) Probability

Less than 10 0.1

10-19 0.166

20-29 0.333

30-39 0.233

40-49 0.066

50 or more 0.1

Note that the probabilities add up to 1, which is what we expect for a probability distribution.

The probability of drawing a yellow marble on the next draw is 13/48, which is option A, 13%.

The probability of drawing a yellow marble in the next draw depends on whether the drawing process is with or without replacement.

If the drawing process is with replacement, meaning that the marble is put back into the bag after each draw, then the probability of drawing a yellow marble remains the same at 13/48.

If the drawing process is without replacement, meaning that the marble is not put back into the bag after each draw, then the probability of drawing a yellow marble changes. After 48 draws, there are 35 white marbles and 13 yellow marbles left in the bag.

Therefore, the correct answer is A) 13%.

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The pairs of cities that will not put Jenny back under budget if she drops them are:

a. Moscow and Chelyabinsk

b. Izhevsk and Nizhny Novgorod

To determine which pair of cities Jenny can drop without going over budget, we need to find the total cost of each pair and see if it exceeds her budget of rub 33,000.

a. Moscow and Chelyabinsk:

Total cost = 5,485 + 5,217 = 10,702 rubles

This pair of cities is over budget, so Jenny cannot drop any other cities if she wants to visit both Moscow and Chelyabinsk.

b. Izhevsk and Nizhny Novgorod:

Total cost = 4,721 + 6,920 = 11,641 rubles

This pair of cities is over budget, so Jenny cannot drop any other cities if she wants to visit both Izhevsk and Nizhny Novgorod.

c. Novosibirsk and Saint Petersburg:

Total cost = 4,870 + 5,960 = 10,830 rubles

This pair of cities is under budget, so Jenny can drop this pair without going over budget.

d. Yaroslavl and Tolyatti:

Total cost = 4,901 + 5,598 = 10,499 rubles

This pair of cities is under budget, so Jenny can drop this pair without going over budget.

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The parent functions of the function equations are x³, x⁴ and x²

The transformed functions 3 - 5 represent the given parameter

To derive the parent functions, we need to determine the degree of the transformed and use this degree as a guide

By definition, the degree of a function is the highest power in the function

So, we have

Question 3

g(x) = (1/2x + 2)³ + 5

The degree here is 3

This means that the function is a cube function

The parent function of a cube function is y = x³

So, the parent function is g(x) = x³

Question 4

g(x) = x⁴ - 4

The degree here is 4

This means that the function is a polynomial function shifted down by 4 units

The parent function of this is y = x⁴

So, the parent function is g(x) = x⁴

Question 5

g(x) = 1/2(x - 1)² - 4

The degree here is 2

This means that the function is a quadratic function

The parent function of a quadratic function is y = x²

So, the parent function is g(x) = x²

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If Tamekia and Marsha work for 22 hours, Marsha will earn $27.50 more than Tamekia.

To determine the amount of money each person can earn, we need to know the hourly rate and the number of hours worked. Tamekia estimates that she can earn between $6.00 and $6.25 per hour. Let's assume that she can earn $6.25 per hour. If Tamekia works for 22 hours, her total earnings will be:

Total earnings for Tamekia = Hourly rate x Number of hours worked = $6.25 x 22 = $137.50

Now let's look at Marsha's earnings. Marsha estimates that she can earn between $7.50 and $8.00 per hour. Let's assume that she can earn $7.50 per hour. If Marsha works for 22 hours, her total earnings will be:

Total earnings for Marsha = Hourly rate x Number of hours worked = $7.50 x 22 = $165.00

To determine how much more money Marsha will earn than Tamekia, we need to subtract Tamekia's total earnings from Marsha's total earnings:

Difference in earnings = Total earnings for Marsha - Total earnings for Tamekia = $165.00 - $137.50 = $27.50

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The total differential of the function z = 7x^4y^5 is dz is (28x^3y^5)dx + (35x^4y^4)dy.

To find the total differential of the function z = 7x^4y^5, we need to compute the partial derivatives with respect to x and y, and then express dz in terms of dx and dy.

Computing the partial derivative with respect to x,
∂z/∂x = 4 * 7x^3y^5 = 28x^3y^5

Computing the partial derivative with respect to y,
∂z/∂y = 5 * 7x^4y^4 = 35x^4y^4

Express dz in terms of dx and dy,
dz = (∂z/∂x)dx + (∂z/∂y)dy
dz = (28x^3y^5)dx + (35x^4y^4)dy

So, the total differential of the function z = 7x^4y^5 is dz = (28x^3y^5)dx + (35x^4y^4)dy.

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Using the Empirical Rule.  The percentage of small business stock prices that are more than $81. 67 is 0.30%

To use the Empirical Rule, we need to assume that the distribution of small business stock prices is approximately normal.

First, we need to find the z-score for $81.67:

z = (81.67 - 54.82) / 8.95 = 2.99

Next, we can use the Empirical Rule to estimate the percentage of small business stock prices that are more than $81.67:

About 99.7% of the data falls within 3 standard deviations of the mean.

Therefore, about 0.3% of the data falls more than 3 standard deviations above the mean.

Since $81.67 is more than 3 standard deviations above the mean, we can estimate that the percentage of small business stock prices that are more than $81.67 is about 0.3%.

Rounded to the nearest hundredth, the estimated percentage is 0.30%.

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Your best friend is charging you an annual interest rate of 4% for lending you ₹300 for nine months with a quarterly interest rate of 1%.

The amount a lender charges a borrower for the use of assets, such as money, consumer goods, or physical assets, is known as an interest rate. It is a fraction of the loan's principal, which is the amount borrowed to cover the cost of the purchase or the deposit made with a bank or other financial institution.

If your best friend is charging you an extra ₹3 for every three months that pass before you return the money, then after nine months, you will owe her an extra ₹9 in addition to the original ₹300.

So the total amount you must pay her if you return the ₹300 after nine months would be ₹309.

To calculate the annual rate of interest she is charging you, we can use the formula:

Annual Interest Rate = (Total Interest / Principal) x (12 / Number of Months)

Where the Principal is the original amount borrowed (₹300), the Total Interest is the extra amount you owe her (₹9), and the Number of Months is the time period for which you borrowed the money (9 months).

Plugging in the values, we get:

Annual Interest Rate = (9 / 300) x (12 / 9) = 0.04 or 4%

So, your best friend is charging you an annual interest rate of 4% for lending you ₹300 for nine months with a quarterly interest rate of 1%.

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The complete question is:

You ask your best friend to lend you ₹300 to buy your favourite toy. She says she can lend you the money only if you give her an extra ₹3 for every three months that pass before you return it. What is the total amount you must pay her if you return it after nine months? What is the annual rate of interest she is charging you?

The MAD for this set of data is 0.8.

To find the MAD (Mean Absolute Deviation) for this set of data, we first need to find the mean of the ages:

Mean = (13 + 10 + 9 + 10 + 10 + 9 + 10 + 10 + 11 + 9) / 10 = 10.1

Next, we find the absolute deviation of each age from the mean:

|13 - 10.1| = 2.9

|10 - 10.1| = 0.1

|9 - 10.1| = 1.1

|10 - 10.1| = 0.1

|10 - 10.1| = 0.1

|9 - 10.1| = 1.1

|10 - 10.1| = 0.1

|10 - 10.1| = 0.1

|11 - 10.1| = 0.9

|9 - 10.1| = 1.1

Then, we find the average of these absolute deviations:

MAD = (2.9 + 0.1 + 1.1 + 0.1 + 0.1 + 1.1 + 0.1 + 0.1 + 0.9 + 1.1) / 10 = 0.8

Therefore,To find the MAD (Mean Absolute Deviation) for this set of data, we first need to find the mean of the ages:

Mean = (13 + 10 + 9 + 10 + 10 + 9 + 10 + 10 + 11 + 9) / 10 = 10.1

Next, we find the absolute deviation of each age from the mean:

|13 - 10.1| = 2.9

|10 - 10.1| = 0.1

|9 - 10.1| = 1.1

|10 - 10.1| = 0.1

|10 - 10.1| = 0.1

|9 - 10.1| = 1.1

|10 - 10.1| = 0.1

|10 - 10.1| = 0.1

|11 - 10.1| = 0.9

|9 - 10.1| = 1.1

Then, we find the average of these absolute deviations:

MAD = (2.9 + 0.1 + 1.1 + 0.1 + 0.1 + 1.1 + 0.1 + 0.1 + 0.9 + 1.1) / 10 = 0.8

Therefore, the MAD for this set of data is 0.8.

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Lesli ganará $750 de interés si presta $5000 a pagar en 3 años al 5% de interés simple anual.

Para calcular el interés que ganará Leslie en diferentes escenarios, consideraremos los siguientes casos:

A) Tasa simple anual del 5%:

El interés simple se calcula multiplicando el capital prestado por la tasa de interés y el tiempo en años.

Interés = Capital x Tasa x Tiempo

Interés = 5000 x 0.05 x 3 = $750

B) Tasa simple anual del 10%:

De manera similar al caso anterior, el interés se calcula como:

Interés = 5000 x 0.10 x 3 = $1500

C) Tasa compuesta anual del 5%:

En el caso de la tasa de interés compuesta, los intereses se acumulan en cada período. La fórmula para calcular el monto total es:

Monto = Capital x (1 + Tasa)^Tiempo

Monto = 5000 x (1 + 0.05)^3 = $5788.75

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The measure of angle x of the ninja star is given by x = 56°

Given data ,

Let the ninja star be represented as an isosceles triangle

Now , it is constructed using four congruent isosceles triangles that are placed along the sides of a square

And , the vertex angle of the triangle is x

In an isosceles triangle, the two equal sides are called legs, and the remaining side is called the base. The angle opposite the base is called the vertex angle

So , the measure of x = 180° - ( 62° + 62° )

On simplifying , we get

x = 56°

Hence , the angle of triangle is x = 56°

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It will take 6 minutes for the water hose to fill the 2-gallon bucket at a rate of 1/3 gallon per minute.

To determine the time required to fill a 2-gallon bucket using a water hose that fills at a rate of 1/3 gallon per minute, you can use a simple calculation.

First, identify the fill rate of the hose, which is 1/3 gallon per minute. Now, consider the bucket's capacity, which is 2 gallons. To find out how many minutes it takes to fill the bucket, divide the total capacity of the bucket by the fill rate:

Time (minutes) = Bucket capacity (gallons) / Fill rate (gallons per minute)

In this case:

Time (minutes) = 2 gallons / (1/3 gallons per minute)

To solve this, you can multiply the numerator and denominator by the reciprocal of the fill rate:

Time (minutes) = 2 gallons * (3 minutes per gallon)

Time (minutes) = 6 minutes

So, it will take 6 minutes for the water hose to fill the 2-gallon bucket at a rate of 1/3 gallon per minute.

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The trigonometric ratios of angle C are sin C = 15/17, cos C = 8/17, and tan C = 15/8.

Since triangle ABC is a right triangle with a right angle at B, and we know AC = 17 units (hypotenuse) and BC = 8 units (adjacent side to angle C), we can use the Pythagorean theorem to find the length of the remaining side, AB (opposite side to angle C).

The Pythagorean theorem states: AB² + BC² = AC²

Plugging in the values we know:
AB² + 8² = 17²
AB² + 64 = 289

To find AB:
AB² = 289 - 64 = 225
AB = √225 = 15 units

Now we can determine the trigonometric ratios of angle C:

1. sine (sin C) = opposite/hypotenuse = AB/AC = 15/17
2. cosine (cos C) = adjacent/hypotenuse = BC/AC = 8/17
3. tangent (tan C) = opposite/adjacent = AB/BC = 15/8

So the trigonometric ratios of angle C are:
sin C = 15/17, cos C = 8/17, and tan C = 15/8.

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Based on the results of Corey repeating his process 10 more times, a possible reason for this outcome with 3 green balls, 2 orange balls, and 5 purple balls could be that there is a higher probability of selecting a purple ball compared to the other colors.

Here's a step-by-step explanation:

1. Corey conducted an experiment where he repeated a process 10 times.
2. During these trials, he obtained the following results: 3 green balls, 2 orange balls, and 5 purple balls.
3. The distribution of colors suggests that there is a higher probability of selecting a purple ball (5/10) than a green ball (3/10) or an orange ball (2/10).
4. This outcome could be due to factors such as a larger number of purple balls in the pool from which Corey is selecting or some other bias in the process that increases the likelihood of selecting a purple ball.

In conclusion, the possible reason for the outcome with 3 green balls, 2 orange balls, and 5 purple balls is that there might be a higher probability of selecting a purple ball during Corey's repeated trials.

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By using concept of interior angle we find the value of X is -7.14 degrees.

The above problem involves finding the value of x in a triangle with two known angles measuring 78° and 152°.

The sum of the interior angles of any triangle is always 180°, so we can use this fact to set up an equation involving the third angle, which is given as 7x +3 degrees.

To solve for x, we first simplify the equation by combining the known angles:

78° + 152° + (7x + 3)° = 180°

Next, we can simplify by adding the two known angles:

230° + 7x° = 180°

This simplifies to:

7x° = -50°

Finally, we can solve for x by dividing both sides by 7:

x =  [tex]\frac{-50^\circ}{7}$$[/tex]

Therefore, x is approximately -7.14 degrees.

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The point on the number line that represents the probability of rolling an even number and selecting a green marble is 3/8, which is between 0.3 and 0.4 on the number line.

Will she land on an even number and then selects agreen marble?

The probability of rolling an even number is 3/6, which can be simplified to 1/2, because there are three even numbers (2, 4, and 6) out of six possible outcomes.

The probability of selecting a green marble from the bag is 3/4, because there are three green marbles out of four total marbles in the bag.

To calculate the probability of both events happening together (rolling an even number and selecting a green marble), you multiply the probabilities of each event:

P(even number and green marble) = P(even number) x P(green marble)

P(even number and green marble) = (1/2) x (3/4)

P(even number and green marble) = 3/8

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(a) Discount amount is $6. (b) Maturity value is $2,200. (c) Current yield is 0.27%.

Here, we have,

A discount is a reduction in the regular selling price of a good or service, either in terms of money or as a percentage.

A product may, for instance, be discounted by $10 from its list price or by 10% from its list price. A sales discount is a lower price that a company offers on a good or service.

Find out how to add discounts to invoices. A sales discount, usually referred to simply as a "discount," offers clients of a business a lower price on one or more of the goods or services being provided.

(a) Discount amount

= Maturity (face) value - Purchase price

=$2,200 - $2,194

=$6

(b) Maturity value

=Face value

=$2,200

(c) Current yield

=Discount amount / Purchase price

=$6 / $2,194

=0.0027, or 0.27%

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The x-coordinate of point T is 7. Thus, point T is (7, 3).

To solve for x, we will use the concept of slope. The slope between any two points on a line remains constant. Let's find the slope between points R(-5, -3) and S(-1, -1):

Slope (m) = (y2 - y1) / (x2 - x1)
m = (-1 - (-3)) / (-1 - (-5))
m = (2) / (4)
m = 1/2

Now, we will use the slope between points S(-1, -1) and T(x, 3):

m = (3 - (-1)) / (x - (-1))
1/2 = (4) / (x + 1)

Now, we will solve for x:

1/2 (x + 1) = 4
x + 1 = 8
x = 7

So, the x-coordinate of point T is 7. Thus, point T is (7, 3).

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Answer:

x ~= 61.0°

Step-by-step explanation:

This is a trig question. The marked angle is unknown so we will use an inverse trig function to find a missing angle. On your calculator you may need to use the 2nd button or shift to get not just "cos" but the inverse cos. It might look like cos with a -1 exponent or "arccos" or "acos"

So the triangle is a right triangle. The angle is next to one of the given sides. "Next to" is called "adjacent" these mean the same thing. One side is adjacent to the angle. The other given side is the hypotenuse.

The trig function that puts together Adjacent and Hypotenuse is cosine.

cos (angle) = adj/hyp

We know the two sides. Fill them in.

cos (angle) = 31/64

We are looking for the angle.

cos x = 31/64

Use the inverse cos to find the angle.

cos^-1 (31/64) = x

This is a calculator activity. Unless your teacher has given you tables of values (this is how it was done before calculators) you have to use a calculator.

x = 61.0284677763

round to the nearest tenth.

x ~= 61.0

Example problem:

Solution:

Using the formula for exponential decay:

[tex]\sf\qquad\dashrightarrow N(t) = N0 * e^{(-kt)}[/tex]

where:

Since the half-life is 10 years, we know that:

[tex]\sf\qquad\dashrightarrow k = \dfrac{\ln(0.5)}{10} = -0.0693[/tex]

Substituting the given values, we get:

[tex]\sf:\implies N(30) = 100 * e^{(-0.0693 * 30)}[/tex]

[tex]\sf:\implies N(30) = 100 * e^{(-2.079)}[/tex]

[tex]\sf:\implies N(30) = 100 * 0.126[/tex]

[tex]\sf:\implies \boxed{\bold{\:\:N(30) = 12.6\: grams\:\:}}\:\:\:\green{\checkmark}[/tex]

Therefore, after 30 years, only 12.6 grams of the radioactive substance will be left.

To dy/dx when x = - 1 and dx/dt =5. dy/dt =

dy/dt = -35.

To find dy/dt, first we need to find dy/dx. Given y = 5x^2 + 3x, we can differentiate y with respect to x:

[tex]dy/dx = d(5x^2 + 3x)/dx = 10x + 3[/tex]
Now, we need to find dy/dx when x = -1:

[tex]dy/dx(-1) = 10(-1) + 3 = -10 + 3 = -7[/tex]
We are given that dx/dt = 5. To find dy/dt, we use the chain rule:

[tex]dy/dt = dy/dx * dx/dt[/tex]

Substitute the values we found:

dy/dt = (-7) * (5) = -35

So, dy/dt = -35.

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Antonio and lizeth's adjusted gross income is $85,988.

To find their adjusted gross income, we need to start with their total income and subtract any adjustments.

Total income:

Combined income: $83,366

Interest income: $1,200

Rental income: $4,922

Total income before adjustments: $89,488

Adjustments:

Reduce income by $3,500

Adjusted gross income:

$89,488 - $3,500 = $85,988

Therefore, their adjusted gross income is $85,988.

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The optimal rental price to maximize revenue is $35, the same as two summers ago.

To determine the optimal canoe rental price to maximize revenue, we can use the concept of price elasticity of demand, which measures the responsiveness of demand to a change in price.

When the price of a product decreases, consumers tend to buy more of it, but the increase in demand may not be proportional to the decrease in price. The price elasticity of demand can help us estimate the percentage change in demand for a given percentage change in price.

In this case, we can use the data from the previous two summers to estimate the price elasticity of demand for canoe rentals. From the data provided, we know that a $5 decrease in price led to an increase of 25 canoes rented.

This means that the price elasticity of demand is approximately -5 (25/5). In other words, for every 1% decrease in price, we can expect a 5% increase in demand.

To determine the optimal rental price, we need to find the point where the marginal revenue from renting an additional canoe is equal to the marginal cost of renting it out. Assuming that the marginal cost of renting out an additional canoe is constant, we can use the price elasticity of demand to estimate the change in revenue due to a change in price.

If we increase the rental price by $1, we can expect to lose 5% of customers (assuming the same elasticity as last summer). This means that for every $1 increase in price, we will lose 7.5 (150*5%) customers. On the other hand, we will gain $35 in revenue for each of the remaining 142.5 canoes rented, resulting in a total revenue of $4,987.5.

If we decrease the rental price by $1, we can expect to gain 5% more customers, resulting in 157.5 canoes rented. However, we will also lose $30 in revenue for each of the 150 original customers who decide to rent at the lower price.

This means that for every $1 decrease in price, we will gain 7.5 customers but lose $4,500 in revenue. The total revenue at a rental price of $34 will be $4,827.5.

This price will result in the same number of customers as two summers ago but with a slightly higher revenue due to inflation.

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