Solving Proportionality: Cost of Running a Business w/ 18 Employees

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In summary, the annual cost (C) of running a business is partly constant and partly proportional to the number of employees. The total profit ($P) on the sale of the dictionary is partly proportional to the selling price of the dictionary and partly proportional to the square of the selling price of the dictionary.
  • #1
lektor
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Hi a few questions i want to check my answers for here,


3. Write down an expression, evaluate the constant of proportionality, and answer the question.
[Remember to work in SI units. Simplify answers to 1 d.p. only.]
(a) The annual cost (C) of running a business is partly constant and partly proportional to the number of employees.
If there are 20 employees, the annual cost is $400000.
If there are 25 employees, the annual cost is $470000.
Find the annual cost if there are 18 employees

What is meant by partly constant? how would this be written.

C = kN? or C = kN + c?
 
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  • #2
The second one since I guess you mean a constant by c. The first one is as you can see "fully" proportional.
 
  • #3
hrmk so finished that question and was hoping for some help on this next one.

In a bookstore, the selling price of a certain dictionary is $x. The total profit ($P) on the sale of the dictionary is partly proportional to the selling price of the dictionary and partly proportional to the square of the selling price of the dictionary. When x = 35, P = 78750; when x = 60, P = 60000.
(a) Express P in term of x.
(b) Find the total profit if the selling price of the dictionary is $65.

For a) I am not certain but this is my expression,

P = ( kx ) + (x^2) + c
P = x(k + x) + c

with my values of c = 107100 and k = -845 found from info given..

so when x = 65 P = 65(-845+65) + 107100
P = $56400

cheers, any corrections and pointers would be great.
 
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  • #4
lektor said:
The total profit ($P) on the sale of the dictionary is partly proportional to the selling price of the dictionary and partly proportional to the square of the selling price of the dictionary.

It doesn't say partly constant, so why is 'c' in the equation? With a nonzero 'c' in your equation, you would have a profit even if the selling price is zero. No, think about it again. What should the equation be?
 
  • #5
ahah woops, my bad..

So in that case it will be

P = x . x^2
P = Kx^3

However when i solve for k the answers are different..
 
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  • #6
I find the phrasing "partly proportional to the selling price and partly proportional to the square of the selling price" confusing but I'm sure "P= k x (x2)= x3" is not intended since that would simply be "proportional to the cube of the selling price". You were closer with your first idea: P= kx+ (x2)+ c. As Assyrian_77 said, drop the c since nothing is said about a constant- and remember that "proportional to the square of the selling price is "cx2". You don't have a constant of proportionality on the x2.
 

Related to Solving Proportionality: Cost of Running a Business w/ 18 Employees

What is proportionality?

Proportionality is a mathematical concept that describes the relationship between two quantities. It states that as one quantity changes, the other quantity changes in a consistent and predictable manner.

How do you solve for proportionality?

To solve for proportionality, you need to set up a proportion equation using the given quantities. Then, cross-multiply and solve for the missing value. This will give you the ratio between the two quantities, which can be used to make predictions or solve problems.

What is the importance of understanding proportionality in a business setting?

In a business setting, understanding proportionality is important because it allows you to make informed decisions about resource allocation. By understanding the relationship between costs and employees, you can determine the most efficient and cost-effective way to run your business.

How does the cost of running a business change with 18 employees compared to a smaller or larger number?

The cost of running a business will vary based on the number of employees. With a smaller number of employees, the cost may be lower due to less overhead and fewer resources needed. On the other hand, with a larger number of employees, the cost may increase due to more resources needed to support a larger workforce.

What other factors besides number of employees can affect the cost of running a business?

Besides number of employees, other factors that can affect the cost of running a business include overhead costs, such as rent and utilities, cost of materials or supplies, and any external factors such as inflation or changes in the market.

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