Graded Group Assignment March 2023
Graded Group Assignment March 2023
Graded Group Assignment March 2023
Each group member must contribute to the group’s submission; non-participating students
would not be awarded with marks. Thereafter, ONLY THE GROUP LEADER will be
charged with submitting all assignment(s) on behalf of the group. Please note, group members
should all agree upon the final document before it is submitted as the submission will
reflect the entire group’s quality of work. Ensure that all group member names are
included in your final submission.
Three problem sets will be provided. Students are required to work collaboratively in
your respective group to answer each problem. This approach is likely to lead to a greater
understanding of the problem and their solutions by ALL members of the group.
When answering your questions, ensure that you correctly state the question number,
and sub-numbers. Also, number your pages in the order you have answered the questions.
DO NOT include the questions themselves in your submission.
Your submission will be marked out of 100 before your group’s weight out of 25% is
calculated.
ALL questions MUST be answered. Additionally, ALL workings MUST be clearly shown
including formulae where applicable. If a specific method/approach is requested in the
question, this approach/method MUST be used.
1
Problem Set
1. The government of Grenada wishes to rebuild the West coast road that leads to the north
of the island to help alleviate traffic congestion and to provide users with a safer road
network. The government of Grenada has approached two (2) contractors for an estimate.
They are required to submit a proposal that details the cost combination of labour (L),
machinery (M), and technology (T) in achieving their expected total cost, total profit, and
total revenue.
Contractor 1
Two labour, four machinery, and three technology will result in a total cost of thirty-three
dollars. While one labour, two machinery, and one technology give a total profit of fifteen
dollars. Lastly, ten labour, five machinery, and six technologies result in total revenue of
eighty-three dollars.
Contractor 2
a) From Contractor 1’s proposal, derive three (3) simultaneous equations. [3 marks]
b) From the answer to part a) above, set these equations in matrix form [2 marks]
c) Given that the government of Grenada only received one proposal, should the
contract be awarded to Contractor 1? Give reason(s) for your answer. [2 marks]
d) Give three (3) reasons why you believe Contractor 2 never submitted a proposal?
[3 marks]
e) After setting the equations in matrix form from part b) above, calculate all the
cofactors of Matrix A. [9 marks]
f) Which of the three resources do you expect Contractor 1 to price the most? Give
two (2) reasons for your answer. [2 marks]
g) Hence or otherwise, determine the price of Contractor 1’s labour, machinery and
technology. [9 marks]
Problem Set B
1. a) Using Microsoft Excel or Word, sketch or draw the general shape of the graph for the
𝑥2 + 9 , 𝑥 < 2
function 𝑓(𝑥) = { [4 marks]
𝑥2 − 3 , 𝑥≥2
b) For the above function f(x), calculate the left-hand limit. [2 marks]
2
c) For the above function f(x), calculate the right-hand limit. [2 marks]
d) For the above function f(x), calculate the exact limit. [1 mark]
4 3 2
10x3 −8x4 +2x3
2. a) Evaluate Lim 2 2 [6 marks]
x→0 15x4 +3x3 −5x
Problem Set C
e𝑥 – 11ln𝑥 + 340𝑥 5
2. Given that w(x) = State the rule and explain three (3)
7x3 −32e𝑥 + 5ln𝑥
steps that can be applied when differentiating the function w(x). [4 marks]
3
3. Instagram has a revenue function of 𝑅(𝑞) = 5𝑞 2 − 10𝑞 + 600 and a cost function of
𝐶(𝑞) = 3𝑞 2 + 200, where 𝑅(𝑞) and 𝐶(𝑞) are measured in thousands of dollars and q
represent the number of companies who advertise on their platform measured in hundreds.
Instagram has a capacity to advertise for 10000 companies in any given month on its
platform.
a) How much will Instagram’s marginal cost be for advertising at 74% of its
capacity? [2 marks]
b) Calculate and interpret Instagram’s marginal revenue when 8000 companies
advertise with them. [3 marks]
c) How many companies must advertise with Instagram so that its maximum profit
can be achieved? [3 marks]
d) Calculate Instagram’s maximum revenue at/for the number of companies needed
to maximize its total profit? [1 mark]
5. Calculate and describe the point of inflection for the following function:
𝑓(𝑚) = 𝑚3 − 3𝑚2 − 9𝑚 + 7 [3 marks]
A brief group reflective piece comprising of NO MORE THAN 150 words MUST
accompany your final submission and should include.