Highlights
1. The total cost, C(x) associated with producing and marketing x units of an item is given by
C (x) = 0.005x3 -0.02x2 -30x +3000
Find (i) Total cost when output is 4 units.
(ii) Average cost of output of 10 units.
(iii) Marginal cost when output is 3 units.
2. “The success of collecting data through a questionnaire depends mainly on how skillfully and imaginatively the questionnaire has been designed”. Explain some important points to be kept in mind while drafting a questionnaire.
3. In a society of 5000 people, 1200 are above 30 years of age and 3000 are female. Out of the 1200 who are above 30, 200 are female. Suppose after a person is chosen you are told that the person is a female. What is the probability that she is above 30?
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