Final answer:
To find the number of chips that minimizes the cost, substitute the equation into the formula for the vertex of a quadratic equation. The number of chips that minimizes the cost is 1000, and the cost for producing 1000 chips is $20.
Step-by-step explanation:
To find the number of chips that minimizes the cost, we need to find the vertex of the quadratic equation for the cost. The equation for the cost of producing computer chips is y = .000015x^2 - .03x + 35, where x is the number of chips produced. The vertex of a quadratic equation is given by the formula x = -b/2a where a, b, and c are the coefficients of the equation.
For this equation, a = .000015 and b = -.03. Substituting these values into the formula, we get:
x = -(-.03)/(2 * .000015) = .03/(2 * .000015) = .03/ .00003 = 1000
So, the number of chips that minimizes the cost is 1000. To find the cost for that number of chips, we can substitute x = 1000 into the equation and solve for y. Plugging in the value of x, we get:
y = .000015(1000)^2 - .03(1000) + 35 = 15 - 30 + 35 = 20
Therefore, the cost for producing 1000 chips is $20.