# A Contractor Is Interested in the Total Cost of a Project

The average cost of producing a quantity q of a good is defined as a(q) = C(q)/q. The average cost per item for the production of q items is indicated by a (q) = 0.01q2 − 0.6q + 13 for q >0. I know that the total cost is a proposal for the client that includes the following elements: Briefly describe the first five points of the project scope checklist regarding the project: What are the objectives of the project:? list of deliverables. b. The mean, variance and standard deviation of total cost C are determined using equations 4.9 mu _{gamma } =E[a+ bX]=a+ bmu _{X} and 4.10 x^{2 }_{gamma } =Varleft(a+ bXright) =b^{2}sigma ^{2}_{X} 1. The law of diminishing returns implies that at a certain level of production: a) marginal costs must decrease b) the average total cost must decrease c) increases in profits d) marginal costs must increase e) The total cost must decrease 2. Vertical distance A contractor is interested in the total cost of a project for which he wishes to bid. He estimates that the materials will cost P25000 and that his work will cost P900 per day. The contractor then formulates the probability that Industrial Designs has received an order to design a label for a new wine produced by Lake View Winery.

The Co estimates that it will take 150 hours to complete the project. The company`s three graphic designers are available at a business level of 8,800 units, Pember Corporation`s total variable cost is \$146,520, and total fixed costs are \$219,296. Calculate the following values for the activity level of 8,900 units. Required: A. The total variable A contractor is interested in the total cost of a project for which they wish to submit a bid. He estimates that the materials will cost P25000 and that his work will cost P900 per day. The contractor then formulates the probability distribution for completion time (X) in days, as shown in the following table. Completion time in days (X) 10 11 12 13 14 P(X=x) 0.1 0.3 0.3 0.2 0.1 a) Determine the total cost function C for the project.

(b) Determination of the mean and deviation for completion time X.c) Determination of the average, deviation and standard deviation for total cost C A contractor is interested in the total cost of a project for which it wishes to submit a bid. He estimates that the materials will cost 25,000 rupees and his work will be 900 rupees per day. If project X takes days, the total cost of the project (in rupees) is given as follows: c = 25,000 + 900x There is a table that shows the completion time in days for the project. Completion time X (days): Probability 10: 0.1 11: 0.3 12: 0.3 13: 0.2 14: 0.1 Determine the mean and variance for the completion time X. For the mean, which is E(x): I have 11.9 variance V(x): I have 176.7 standard deviation (x), I have 5.92 Now you can find the mean and variance for total cost C. C = 25,000 + 900x mean = c = 25000 + 900x E (c) = E (25000 + 900) = (25000 + 900 v (x) 25000 + 900x E (x) = 11.9 = 25000 + 900 x 11.9 = 357.10, but I`m having trouble finding the variance?? Help pls! Suppose the total cost of manufacturing 4 Honda cars is \$225,000 and the total cost of manufacturing 5 cars is \$250,000 a) What is the average total cost of producing 5 cars b) What is the marginal cost of the fifth car? c) Drag the marginal cost = 25000 + .1(10)(900) + .3(11)(900) + .3(12)(900) +. + .1(14)(900) = . I don`t know what methods your text or course suggests to find the average and variance An entrepreneur is interested in the total cost of a project they want to bid on.

She estimates that the materials will cost \$25,000 and that her work will cost \$900 a day. If Project X takes days, the total labor cost is \$900X and the total project cost (in dollars) is as follows: C = 25,000 + 900X With experience, the contractor forms probabilities (Table 4.4) of the likely project completion times. One. Determine the mean and variance for completion time X.b. Find the mean, variance, and standard deviation for total cost C. Suppose a firm currently employs 10 workers, the only input variable, at a wage rate of \$100. The average physical labor product is 25, the last worker added 10 units to the total output, and the total fixed cost is \$5,000. . . .

mu_{X} =E[X]=sumlimits_{x}{xP(x)} =(10)(0.1)+ (11)(0.3)+ (12)(0.3)+ (13)(0.2)+ (14)(0.1)=11.9days And. Table 4.4 Probability distribution for completion times mu _{c} =E[25,000+ 900X]=(25,000+ 900mu _{X} )=25,000+ (900)(11.9)=\$35,710. The mean and variance for completion time X can be determined using equations 4.4 mu_{X} =E[X]=sumlimits_{x}{xP(x)} and 4.5 sigma ^{2} =E[(X-mu )^2]=sumlimits_{x}{(x-mu )^2} P(x). . . .