Question

How many tractors should be produced to incur minimum cost

Answer 1

For this problem, we are given the function that models the cost of producing a tractor in the function of the number of tractors built. We need to determine the number of tractors we should build to incur the minimum cost.

To solve this problem, we need to find the minimum value for the given function, which happens to be the vertex of the quadratic function. So we have:

`C(x)=1700-110x+0.2x^2`
`x_(min)=(-b)/(2a)=(-(-110))/(2(0.2))=(110)/(0.4)=275\\`

We need to build 275 tractors.